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Record home sales in November

Which has been the case for five straight months
Home sold sign
KitchenerToday file photo

Waterloo Region's housing market remains hot heading into winter.

According to the Kitchener-Waterloo Association of Realtors, a record 575 residential properties were sold through the Multiple Listing System in November, which is a 35 per cent increase compared to the same month last year.

It marks the fifth straight month local home sales have set a record.

"We are now well beyond any pent-up demand from the first lockdown," Nicole Pohl, the new President of KWAR said in a release. "Now we're simply dealing with straight-up demand for our community as an attractive place to put down roots, and the current COVID-19 pandemic is only further fueling the already hot market and elevating Waterloo region as a desirable place to own a home."

The breakdown of November sales is posted below:

  • 341 detached homes (up 28.6 per cent from November 2019)
  • 112 townhouses (up 53.4 per cent) 
  • 82 condominium apartments (up 60.7 per cent)
  • 40 semi-detached homes (up 5.2 per cent)

The average sale price of all homes sold in November was over $637,000 (up 13 per cent), while the average price of the 341 detached homes sold was over $753,000, an increase of 14.4 per cent.

Pohl added the number of properties going up for sale can't keep up with the demand of people wanting to buy.


Blair Adams

About the Author: Blair Adams

Blair is the editor of CityNews Kitchener
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