The Kitchener-Waterloo Real Estate Market Report – November 2016

Ladies and Gentlemen: November does not disappoint!

November 2016 numbers show that the average price of a home was $55,261 higher than November 2015 – a 15.5% gain. Driving this price increase is demand. There were 535 homes that sold through the MLS system in November – 27.1% higher than last year. 6,352 residential properties have sold year-to-date (11 months). We have only seen sales exceed 6,000 once; back in 2007 when it took a full year (12 months) to accomplish.

At the end of November we only had 565 active listing on MLS! This is 60.8% lower than last year.

Number of properties sold in November in each category:

Single detached: 352 (up 34.4% vs November 2015)

Condominium type units: 118 (down 22.9% vs November 2015)

Semi-detached: 32 (up 45.5% vs November 2015)

Freehold Townhouse: 28 (down 20% vs November 2015)

November average price for properties in each category:

Singled detached: $473,104 (up 13.9% vs November 2015)

Apartment-style condo: $209,360 (down 8% vs November 2015)

Townhouse: $310,151 (up 14.8% vs November 2015)

Semi-detached: $330,534 (up 27.7% vs November 2015)