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Nearly 4,500 homes sold in Waterloo Region this year

According to the Kitchener-Waterloo Association of Realtors (KWAR), nearly 4,500 homes have been sold in Waterloo Region in the first six months of 2021.

There were 740 homes sold through its multiple listing service last month, representing a 10.1% jump from June 2020 and a 13.6% decrease from May 2021.

“The number of homes sold in the Kitchener-Waterloo area these past 6 months surpasses any previous 6 months of activity through our MLS® System,” says Nicole Pohl, President of KWAR. “Since the beginning of the year, we have reported 4,393 home sales in Kitchener-Waterloo and area, which is remarkable.”

One of the fastest-growing regions in Canada

Pohl reported that Waterloo’s real estate market is one of the fastest growing in Canada.

“We have, over the last three or four months now seen a stabilization in prices, which is really, really positive, not these crazy price increases every month, but that demand is still there,” she said.

Total residential home sales during the second quarter are up 83.7% compared to last year. On a year-to-date basis, they are up 65.7%

The home sales for June 2021 included 411 detached (down 0.2% from June 2020), 103 condominium units (up 51.5%), 74 semi-detached homes (same), and 152 townhomes (up 14.3%).

Home prices still on the rise

In June 2021, the average price for all residential properties in the Region of Waterloo was $759,115, a 26.4% increase from June 2020 and a 2.6% increase from May 2021.

When breaking down the prices per housing category, the average price for a detached home was $919,914 (up 31.9% from June 2020), $445,493 for a condominium unit (up 19.3%), $590,980 for a townhome (up 29%), and $647,918 for a semi-detached home (up 28.3%).

Source: CBC News

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