The Kitchener-Waterloo housing market continued to break records in April 2021. The month saw a total of 843 residential properties sold through MLS, up 263.4% from April 2020.

“Even if we do not take into account April 2020, when Ontario was in the early days of its state of emergency, it was still an exceptional number of homes sold last month,” says Nicole Pohl, President of KWAR. “The previous 10-year average number of residential sales for April was 618.”

Residential properties sold in April 2021 included 484 detached homes (up 233.8% from April 2020), 111 apartment-style condominium units (up 382.6%), 67 semi-detached (up 294.1%) and 181 townhomes (up 285.1%).

The average price of a home in Kitchener-Waterloo was $757,906 in April 2021, up 34.3% from April 2020. The average price of a detached home was $899,315, up 36.9% from April 2020. Additionally, condominium units sold for an average of $441,887 (up 21.2%), semi-detached for $652,609 (up 33%) and townhomes for $612,550 (up 52.1%).

There were 1,098 new listings added to MLS, an increase of 162.7% from this time last year. The total number of homes for sale at the end of April was 458, a decrease of 21.8% from April 2020. This number was 66.9% lower than the previous ten-year average of 1,384 listings available in April.

The average number of days to sell in April was 9 days, compared to 19 days in April 2020, and a previous five-year average of 21 days.

For the full report from the Kitchener-Waterloo Association of Realtors, click here.