The Kitchener-Waterloo Realtors Association (KWAR) reported a record number of sales for the month of November 2021.
An update from KWAR said 597 homes were sold last month, from 575 in November 2020. The 10-year average for November home sales is 446.
“The high pace of home sales that we have seen over the past year and a half showed no signs of slowing down in November,” KWAR President Megan Bell said in a press release. “Despite some speculation that there will be a correction in the housing market for the Waterloo region, sustained demand for home purchases combined with a record low inventory level in November produced continued price growth in the price of MLS® HPI reference “.
November home sales included 324 single-family homes, 106 condos, 30 townhouses and 136 townhouses.
The median price of 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. Townhomes sold for an average price of $ 700,476 and townhomes sold for an average of $ 717,143.
Homes were on the market for an average of 10 days in November 2021, compared to 14 days in November 2020. The five-year average is 24 days.
Reference-kitchener.ctvnews.ca