Real Estate Waterloo region (mid-summer 2021)

611 residential homes sold in July 2021 through the MLS® System of the Kitchener-Waterloo Association of REALTORS® (KWAR). This is a decrease of 17 per cent compared to July 2020. A very low inventory and the buyers’ strong demand makes Waterloo Region one of the most competitive markets in Ontario.

Here are highlights of KWAR latest report (August 2021):

July (2021) average sale price for all residential properties in the Kitchener-Waterloo area was $755,681. This represents a 18.2 per cent increase over July 2020.

The average price of a detached home was $907,192. This represents a 21.9 per cent increase from July 2020.

The average sale price for an apartment-style condominium was $429,630. This represents an increase of 6.7 per cent from July 2020.

The average sale price for a semi was $667,570. This represents an increase of 28.6 per cent compared to July 2020*.

There were 675 new listings added to the MLS® System in KW and area last month, a decrease of 24 per cent compared to July of last year.

The number of months of inventory was 0.4 in July (281 homes), a decline from 0.5 months in June. Inventory has numbered less than 1 month since October 2020.

The average number of days to sell in July was 11 days, compared to 17 days in July 2020 and a previous 5-year average of 22 days. 

If you consider to buy or sell or rent, contact your Realtor to get a complete picture of the neighbourhoods, properties and community of the Waterloo region. Do not have a Realtor? We will be glad to help.

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*KWAR cautions that average sale price information can be useful in establishing long-term trends but should not be used as an indicator that specific properties have increased or decreased in value.