The February 2022 edition of our Condominium Market Report will compare:

  • Number of Sales
  • Average & Median Sale Price
  • Days on Market
  • List Price to Sale Price Ratio
  • Price Per Square Foot

… in the markets of Kitchener, Waterloo, Cambridge and Guelph.

We have pulled data from both the Kitchener-Waterloo Real Estate Board (KWAR) and the Toronto Regional Real Estate Board (TRREB) to provide you with the most comprehensive and complete report available. This is essential to obtaining accurate results, as over the past few months we’ve noticed a huge increase in the number of condominiums being listed by out-of-town agents and posted on the Toronto Regional Real Estate Board.

Across the 4 cities we will be covering, in February there were

  • 164 sales on the Kitchener-Waterloo Real Estate Board
  • 118 sales on the Toronto Regional Real Estate Board


February 2022 Average Condo Price:

  • Kitchener: $584,759
  • Waterloo: $528,899
  • Cambridge: $560,300
  • Guelph: $687,531

How Much Over Asking Are Condos Selling For? In February on average, approximately:

  • $67,000 over asking price in Kitchener
  • $32,000 over asking price in Waterloo
  • $80,000 over asking price in Cambridge
  • $50,000 over asking price in Guelph

(Calculated using KWAR February average sale price minus average list price).

(This report focuses exclusively on condominium units).

1 Year Trends

Number of Sales

Combined total of sales posted on both KWAR & TRREB

Sale Prices

Weighted average of sales posted on both KWAR & TRREB

Price Per Square Foot ($/SQFT)

Data from KWAR only (TRREB doesn’t post $/SQFT)

Percentage Sold Above Asking Price

Weighted average of sales posted on both KWAR & TRREB
  • Most units are ending up in multiple offer situations, pushing the sale price far above the asking price.

Days to Sell (Median)

Data from KWAR only
  • As the year progressed, condos began to sell quicker and quicker.
  • Most condos sell in about one week. This is largely due to listing agents scheduling a specific offer presentation date, set for about 6-8 days after the home goes on the market.

All statistics gathered independently from Kitchener-Waterloo Association of REALTORS® and the Toronto Regional Real Estate Board.

This publication is not to be copied or duplicated without the express written permission of Roxanne Finn or Claxton Finn.

This publication is not intended to solicit buyers or sellers currently under contract with a brokerage.

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