The following information pertains exclusively to the luxury market (sales over $1,000,000). All statistics were obtained from the Kitchener-Waterloo Real Estate Board.
City Overview:
As we look back on 2019, we see that the Kitchener-Waterloo luxury market (over $1,000,000) continued to outperform other key markets located in southwestern Ontario and across the GTA.
The total number of sales over $1,000,000 increased by a staggering 38.2% – rising from just 89 sales in 2018 to 123 sales in 2019. The average days on market was 43 days, up from 41 in 2018.
Perhaps even more impressive was the rise in the number of new luxury listings in 2019. New listings rose by 58.1% to 408 in 2019. The average luxury sale price did decreased slightly from $1,296,956 in 2018 to $1,263,281 in 2019, the median sale price, however increased by 1.7% to $1,180,000 – up from $1,159,204 in 2018.
2020 Projections:
Based on the ongoing demand in the upper tier market it appears that the sales volume in 2020 will continue to rise as KW experiences more and more migration from Toronto and the GTA – particularly as public transit options continue to expand to support the region.
In a recent CBC interview Colleen Koehler, President of the Kitchener-Waterloo Association of Realtors (KWAR), called the city’s current state “a strong real estate market” and says she expects the trend to continue this year. In another article Colleen also noted that “with interest rates expected to stay low in the year ahead combined with Waterloo region’s ongoing growth, [she] expect[s] 2020 will see more price gains alongside a steady increase in sales”.
Notable Neighbourhoods in 2019:
Upper Beechwood / Beechwood
The Kitchener-Waterloo Real Estate Board reported in 2019, the city’s highest sale price occurred in Upper Beechwood / Beechwood West for $2,350,000. Upper Beechwood / Beechwood experienced a 16.5% increase to the sale price year-over-year from $1,113,333 in 2018 to $1,297,181 in 2019. It appears that this neighbourhood could be one of the fastest growing luxury communities in KW, posting a 166.7% increase in the number of new listings on the market – rising from 12 to 32 – and the number of sales – increasing from 3 to 8 year-over-year.
Pioneer Park / Doon / Wyldwoods
Pioneer Park / Doon / Wyldwoods also entered the luxury market (over $1million) in 2019, their total new listings was up 223.1% from 13 to 42 in 2019. Theaverage sale price sales rose by 5.22% from $1,088,125 to $1,114,938 in 2019.
Hidden Valley / Pioneer Tower
Hidden Valley / Pioneer Tower was once again the top performing luxury neighbourhood in Kitchener-Waterloo posting 106 new listings, a 65.6% increase in 2019. While the number of sales stayed consistent year-over-year, the average sale price rose 1.8% from $1,382,776 in 2018 to $1,382,776 in 2019 – and the median sale price rose an impressive 21.74% from $1,150,000 in 2018 to $1,400,000 in 2019.
Colonial Acres / East Bridge
Colonial Acres / East Bridge continues to be a strong performing luxury community with sales up in 2019 by 42.9% they also experienced a 70.3% increase in the number of new listings rising to 63 in 2019 up from 37 in 2018.
Detailed Community Statistics
Additional Information:
If you would like to obtain a copy of our full report, please email us at Roxanne@ChestnutPark.com or call us direct at 289-338-0767.
This publication is not be copied or duplicated without the express written permission of Roxanne Henderson. This publication is not intended to solicit buyers or sellers currently under contract with a real estate brokerage.
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Just Listed on Lake Simcoe: 968 Degrassi Cove Pl W, Innisfil
This custom home direct waterfront home was built in 2000 by the current owner and has served as a sanctuary for family and friends. Over their 22 years of ownership, they have enjoyed the property during every season.
Degrassi Cove is a small and exclusive waterfront community and share the private road. The forested lands on the opposite side of the street provide great privacy. There is no vehicle traffic other than the neighbours, so it is very safe for kids.
Built as a 4-season home and located on the west-side of Lake Simcoe. You will enjoy north-west facing views of the lake and sunsets. There are no stairs to the water’s edge. The water table is level to the lot, which offers a beautiful beach area along the shoreline. There is great swimming and boating. The portable dock is 65 ft long with a 12’ x 12’ patio area. Boating enthusiasts can store their boat in the dry boathouse. Entertaining on the lake is so easy!
The home offers 2,700 sf on the main and upper level. The principal rooms offer generous space including a large private family room, formal dining room, large great room combined with the eat-in kitchen. In addition, there is 1,535 sf of finished space on the walk-out level. There are four generous size bedrooms. The primary bedroom is situated on the main level and overlooks the lake, and includes a five-piece ensuite, a walk-in closet and a garden door to the lakeside patio area. The three other bedrooms are located on the second floor.
The lower level includes a large recreation room with wood-burning fireplace and a walk-out to the lake. A large office with a built-in desk and bookcases can serve as a large 5th bedroom. The 3-piece bathroom is also equipped with a partially finished cedar-lined sauna. There is plenty of storage space on this level too.
$2,500,000
Photography by @ishutterphoto
Staging by @chateau_designandstaging
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Just Listed: 30 George Street, Bayfield.
This professionally designed custom-built home embodies a comfortable, vintage cottage feel built with energy efficient maintenance-free materials. This home offers a private park-like setting, with in- town conveniences. It’s a nature lover’s lot…a sanctuary for birds and wildlife. This one in in a million home was showcased in a 16-page spread in Cottages & Bungalows Magazine.
Shiplap walls and wood slat ceilings throughout impart a cabin-like coziness. The primary bedroom is secluded on the main floor overlooking a wooded area that surrounds the property. The front office duals as an additional main floor bedroom adjacent to a 3-piece bathroom. The upper level includes two additional bedrooms that provide enhanced privacy for guests. One of the bedrooms functions as a seating area with a Murphy bed and small kitchenette. It has been designed as a secure space for future rental opportunity.
Located in the charming lakeside village of Bayfield, this property is a stone-throw away from Lake Huron, a short walk to town, the fishing pier and marina, Pioneer Park and the Community playground. This spectacular property backs on to a designated environmental area and surrounded by trees makes it an ideal retreat for entertaining family and friends.
$1,495,000
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There are rooms with a view, and then there are bathrooms with a view. What better way to end your day than in this freestanding tub.
Design @candaceplotzdesign
Photo @patrickbiller
Builder @jeffery_homes
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It’s no secret that green has been trending in a major way lately. Not only does the leafy shade conjure the sensation of being outdoors after two years cooped up at home, it also is a versatile (and welcome) alternative to traditional colors like white and gray.
via @pcdsackitchens
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The kitchen is the heart of the home 🤍
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For Sale: 334 Metro Road N, Georgina
Sweet 3 bedroom home that has a light and airy feel to the interior. Vaulted ceiling with open concept design creates a welcoming feel with plenty of natural sunlight all afternoon. Hardwood floors in bedrooms. Updated interior ready to be moved in to. It is a special place to call home or cottage.
Large wrap-around deck features West-facing views of 2-acre park of which you would be a 1/10th owner. Private dock for all park owners. Deeded Lake Simcoe access is rare to find. Very private setting with mature trees.
$964,000
Message us today for more information or to book private showing.
staging by @chateau_designandstaging
photography by @ishutterphoto
#lakesimcoe #lakesimcoerealestate #georginaontario #keswick #lakehouse #lakehousedecor #cottageinterior #cottagestyle
20 Quiet Heights Lane, Georgina provides views of the lake from all spaces on the west side of them home, including the great room, kitchen, dining area, and primary bedroom.
You will enjoy the morning sunrise from the front covered porch and of course, sunset views from the lakeside. The natural sunlight fills the home with warmth and light all day long. It’s tranquil, serene, and welcoming.
In the design stages, the current owner had some important “must-have’s” including a Muskoka like feel, spaciousness, sun-filled rooms, and an “understated elegance“ carried throughout the home.
Some of the interior features include:
– 3 bedrooms on main level and 2 additional bedrooms on the lower level
– 3 full bathrooms plus powder room
– 10.9 ft ceiling height on the main level and 9 ft ceiling height on the lower level
– Great room includes custom millwork and 13 ft vaulted coffered ceiling
– Gourmet kitchen with upgraded appliances
– Spectacular light fixtures including ceiling fans in each bedroom
– Custom drapery and blinds
– Radiant heated floors in kitchen, primary ensuite and the entire lower level
– Surround sound system both indoors and outdoors
A full list of room features, additional images, virtual tour, and more can be found on our website (link in bio).
This listing is also available on realtor.ca (MLS# N5657656)
Listing Price: $1,935,000
DM us to book a private viewing.
Photography @ishutterphoto
Staging @chateau_designandstaging
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Just Listed: 20 Quiet Heights Lane, Georgina.
When you combine the attention to detail of a quality builder with the owner’s vision to create a sanctuary home, the result is spectacular.
This home offers a “Zen” feel immediately upon your arrival.
The landscaping is wonderfully appointed with a collection of perennial gardens, shrubs, mature trees and privacy hedges on both sides, which is home to many birds. There are several seating areas promote great conversation with family and friends or a place to enjoy some quiet time when you want to be alone and enjoy nature all around you.
This is a wonderful home to entertain in both indoors and outdoors. The raised balcony includes a covered area where you can enjoy a summer rain shower. The open area provides lots of space for your chaise loungers to get some sun and watch an array of boats on the lake.
The lower deck is covered and a perfect location for the 7-seater plus lounger hot tub along with another separate seating area to enjoy the lake views.
Listing Price: $1,935,000
DM us to book a private viewing.
The full listing can be found on our site & on realtor.ca (MLS# N5657656)
Photography @ishutterphoto
#lakesimcoe #lakesimcoerealestate #georgina #georginarealestate #keswick #lakeviews #custombuild
Tags: East Bridge, Lackner Woods, Lexington