KITCHENER -- Home sales in Kitchener-Waterloo dropped by 32.1 per cent in September 2021, compared to the same month last year.
The Kitchener-Waterloo Association of Realtors reported 506 residential home sales last month. In September 2020, there were 758 residential sales.
“While the total number of homes sold last month was down considerably compared to last September, it can still be considered an above average month of activity when we remember that last September smashed any previous September for number of sales,” KWAR president Nicole Pohl said in a news reels. “In fact, I would say we are on track for setting a record number of annual sales in 2021.”
September's update included 267 detached sales, 83 condo sales, 41 semi-detached homes and 115 townhouses.
The average price for all residential sales in September of this year was $792,599, marking a 5.7 per cent increase from August and a 24.2 per cent jump from September 2020.
For detached homes, the average price was $963,646. That figure reflects a 7.9 per cent increase from August and a 24.9 per cent spike from last September.
Semi-detached homes sold for an average of $686,316, which is up only 0.5 per cent from last month but marks a jump of 26.1 per cent compared to September 2020.
Meanwhile, townhouses had an average sale price of $646,026, reflecting a rise of 3.7 per cent from August and a significant increase of 35.7 per cent from last September.
Finally, condo units sold for an average of $497,949. That marks an increase of 12.4 per cent compared to last month and a 28.6 per cent jump from September 2020.
Homes were on the market for an average of 10 days in September, down from 14 days in September 2020 and the five-year average of 23 days.
