October 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 October 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 OCTOBER 2021 593 RESIDENTIAL HOMES SOLD 84 40 1219 DETACHED HOMES SOLD 348 CONDOMINIUMS, SEMI-DETACHED HOMES & TOWNHOUSES SOLD $997,654 AVERAGE SALE PRICE (ALL RESIDENTIAL) $841,764 AVERAGE SALE PRICE (DETACHED HOMES) ↑ ALL RESIDENTIAL PROPERTIES AVERAGE SALE PRICE OF 32.9% OCT 2020 FROM AVERAGE SALE PRICE OF DETATCHED HOMES 34.2% SEPT 2020 OVER PROVIDED BY KITCHENER-WATERLOO ASSOCIATION 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!

 

Home Prices Continue To Increase With Strong Home Sales in October

Source: kwar.ca

KITCHENER-WATERLOO, ON (November 3, 2021) –– A total of 593 residential homes sold last month through the Multiple Listing Service® (MLS® System) of the Kitchener-Waterloo Association of REALTORS® (KWAR), a decrease of 11.1 per cent compared to last October and an increase of 16.5 per cent compared to September.

“While not as red-hot as last year’s record-breaking October, it was still a higher-than-normal number of home sales for the month, and the second-highest October on record,” says KWAR’s president, Nicole Pohl. “The number of listings coming on the market can scarcely keep up with the demand for homes in Waterloo region, and the continued price growth we see in October reflects this.”

Total residential sales in October included 348 detached (down 13.2 per cent from October 2020), and 84 condominium units (down 8.7 per cent). Sales also included 40 semi-detached homes (down 9.1) and 121 townhouses (down 6.9 per cent).

In October, the average sale price for all residential properties in the Kitchener-Waterloo area was $841,764. This represents a 32.9 per cent increase over October 2020 and a 6.1 per cent increase compared to September 2021.

  • The average price of a detached home was $997,654. This represents a 34.2 per cent increase from October 2020 and an increase of 3.5 per cent compared to September 2021.
  • The average sale price for an apartment-style condominium was $464,738. This represents an increase of 18.1 per cent from October 2020 and a decrease of 7.1 per cent compared to September 2021.
  • The average sale price for a townhouse was $693,324. This represents a 39.4 per cent increase from October 2020 and an increase of 7.3 per cent compared to September 2021.
  • The average sale price for a semi was $726,313. This represents an increase of 34.6 per cent compared to October 2020 and an increase of 5.6 per cent compared to September 2021.

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