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A Semi-Detached Home in Kitchener Sells for $300K Above Asking Price

A semi-detached home in Kitchener just sold for $300,000 above the asking price. The Kitchener-Waterloo real estate market is clearly not slowing down for the time being.

Located in Kitchener’s Laurentian West neighbourhood, the home was listed for $500,000. 53 offers later, it sold for $801,000. According to the story covered by CTV News Kitchener, residents in the area were not surprised, citing the booming housing market in the Region of Waterloo.

Kitchener-Waterloo is a very attractive region for people looking to move out of bigger cities. Statistics Canada recognized Waterloo Region as one of the fastest-growing places, population-wise, in the country.

“It’s just driving up that purchase price,” said Nicole Pohl, president of the Kitchener-Waterloo Association of Realtors. “We just do not have enough supply and, when there’s high demand, that’s just the reality of economics.”

What are your thoughts on the surging housing market in Waterloo Region? Comment below or reach out to our team!

Original Source: CTV News Kitchener

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