The Kitchener-Waterloo Association of Realtors (KWAR) reported a record high number of sales for the month of November in 2021.
An update from KWAR said 597 homes were sold last month, up from 575 in November 2020. The 10-year average for home sales in November is 446.
“The elevated pace of home sales we’ve seen for the past year and a half showed no sign of slowing down in November,” KWAR President Megan Bell said in a news release. “Despite some speculation of there being a housing market correction in store for Waterloo Region, sustained homebuying demand combined with a record low level of inventory in November produced continued price growth in the MLS® HPI benchmark price.”
November home sales included 324 detached homes, 106 condos, 30 semi-detached homes and 136 townhouses.
The average price for all residential properties in Kitchener-Waterloo was $821,969 last month. Detached homes sold for an average of $990,447, while condos had an average price of $494,548. Townhouses sold for an average price of $700,476, and semi-detached homes sold for an average of $717,143.
Homes were on the market for an average of 10 days in November 2021, down from 14 days in November 2020. The five-year average is 24 days.
