An in-depth look at the Kitchener Waterloo real estate market based on findings from the last year.
The following is an in-depth look at the Kitchener Waterloo real estate market, including the average price of residential properties over the last year, the number of homes bought and sold in each price range and more.
Understanding the environment of your local real estate market is key to becoming an agile participant when buying or selling a property within that market.
Kitchener Waterloo Average Home Price
The Kitchener Waterloo Real Estate Market is hot and prices continue rising. In the last 20 years the average home price is up more than 2.5 times what it was in 1995. That means a $130,000 home is now worth $345,000!!! There are a lot of great homes available and unlike a savings account or RRSP, you can live in this great investment.
Kitchener Waterloo Homes Sold Year-To-Date in Each Price Range
We are seeing very strong demand for homes priced $300,000 to $350,000. This price range appeals to both first time home buyers, investors, and those moving up from a condo or semi-detached home. The luxury market ($750,000 plus) is gaining ground but still makes up a small part of the market. It is becoming very hard to find homes under $225,000.
Kitchener Waterloo September Residential Sales
Kitchener west is seeing the greatest number of sales. With a lot of the homes priced in the $300,000 range and with great access to the expressway and the 401, this area has the highest turn over.
Kitchener Waterloo Year-To-Date Residential Homes Sold
Home sales to date are strong and are trending up. This indicates that buyers and sellers are making deals. We are seeing buyers moving east from London and west from Toronto, Mississauga, Milton and Guelph.