November 2021 Kitchener-Waterloo Real Estate Market Update

Cindy Cody Kitchener-Waterloo Real Estate Market Update

Here’s a market snapshot of the Kitchener-Waterloo Real Estate Market in November 2021 plus a market recap from the Kitchener-Waterloo Association of REALTORS.

May be an image of text that says 'THE CINDY CODY TEAM KITCHENER-WATERLOO REAL ESTATE MARKET NOVEMBER 2021 597 RESIDENTIAL HOMES SOLD 106 30 1363 DETACHED HOMES SOLD 324 CONDOMINIUMS. SEMI-DETACHED HOMES & TOWNHOUSES SOLD $990,447 AVERAGE SALE PRICE (ALL RESIDENTIAL) $821,969 AVERAGE SALE PRICE (DETACHED HOMES) ↑ ALL RESIDENTIAL PROPERTIES AVERAGE SALE PRICE OF 28.9% FROM NOV 2020 AVERAGE SALE PRICE OF DETATCHED HOMES 31% FROM NOV 2020 STATS PROVIDED BY KITCHENER-WATERLOO ASSOCIATION OF REALTORS® RE/MAX TwinCity'

Buyers are still looking for homes in Kitchener-Waterloo. Wondering what this means for your home’s value? Talk to us today!

 

A New Record High for Number of Home Sales in November and an All-Time Record Low Supply Reading

Source: kwar.ca

KITCHENER-WATERLOO, ON (December 3, 2021) –– There were 597 residential homes sold last month through the Multiple Listing Service® (MLS® System) of the Kitchener-Waterloo Association of REALTORS® (KWAR) setting a new record high for November. Compared to the same month last year, November sales were up 4.4% and on par with last month. The previous ten-year average number of residential sales for November is 446.

“The elevated pace of home sales we’ve seen for the past year and a half showed no sign of slowing down in November,” says KWAR’s president, Megan Bell. “Despite some speculation of there being a housing market correction in store for Waterloo Region, sustained homebuying demand combined with a record low level of inventory in November produced continued price growth in the MLS® HPI benchmark price.”

Total residential sales in November included 324 detached (down 3.9 per cent from November 2020), and 106 condominium units (up 27.7 per cent). Sales also included 30 semi-detached homes (down 25 per cent) and 136 townhouses (up 21.4 per cent).

In November, the average sale price for all residential properties in the Kitchener-Waterloo area was $821,969. This represents a 28.9 per cent increase over November 2020 and a 2 per cent decrease compared to October 2021.

  • The average price of a detached home was $990,447. This represents a 31 per cent increase from November 2020 and a decrease of 0.6 per cent compared to October 2021.
  • The average sale price for an apartment-style condominium was $494,548. This represents an increase of 23.5 per cent from November 2020 and an increase of 7.1 per cent compared to October 2021.
  • The average sale price for a townhouse was $700,476. This represents a 44.8 per cent increase from November 2020 and an increase of 0.9 per cent compared to October 2021.
  • The average sale price for a semi was $717,143. This represents an increase of 27.3 per cent compared to November 2020 and a decrease of 1.3 per cent compared to October 2021.
  • Read more.