Home sales in Waterloo Region finished strong to end 2020.
Another record was set in December as 351 properties were sold through the Multiple Listing System, which is a 42 per cent increase compared to December 2019.
When you break it down for the year, over 6,400 homes exchanged hands, an increase of nine per cent compared to figures from the previous year.
“This marks the sixth consecutive month of record home sales in Kitchener-Waterloo and helps propel 2020’s annual number of transactions over the 6,000-unit threshold for only the third time in our history.” Nicole Pohl, President of the Kitchener-Waterloo Association of Realtors, explained in a news release.
Here's a breakdown of sales in December:
- 204 detached homes (up over 46 per cent)
- 64 freehold townhouses (up 68.4 per cent)
- 63 condominium units (an increase of 34 per cent)
- 20 semi-detached homes (down over nine per cent)
For 2020, of the over 6,400 properties that were sold, almost 3,900 were detached homes (8.1 per cent increase).
The average price of all properties that sold in 2020 increased by just over 16 per cent to close to $613,000 compared to 2019.
Detached homes sold for an average price of just over $719,000 (an increase of 16.9 per cent).
