The Kitchener-Waterloo housing market took a huge leap in January 2021. The month saw a total of 351 residential properties sold through MLS, up 24.9% from January 2020.
“January’s home sales were more active than what we typically see this time of year,” says Nicole Pohl, President of the KW Association of Realtors (KWAR). “But nothing has been typical about our housing market.”
Residential properties sold in 2021 included 201 detached homes (up 31.3% from January 2020), 71 apartment-style condominium units (up 97%), 21 semi-detached (unchanged) and 56 townhomes (down 17.6%).
The average price of a home in Kitchener-Waterloo was $695,582 in January 2021, up 23.9% from January 2020. The month came with a significant milestone as the average price of a detached home was over $800K for the first time ever, coming in at $853,945. This was up 27.3% from January 2020. Additionally, condominium units sold for an average of $383,196 (down 1.4%), semi-detached for $626,512 (up 29.3%) and townhomes for $566,345 (up 29%).
For the full report from the Kitchener-Waterloo Association of Realtors, click here.