The January 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.

OVERVIEW

2021 4th Quarter Average Condo Price:

  • Kitchener: $466,834
  • Waterloo: $513,267
  • Cambridge: $535,770
  • Guelph: $566,645

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

  • $75,000 over asking price in Kitchener
  • $70,000 over asking price in Waterloo
  • $90,000 over asking price in Cambridge
  • $30,000 over asking price in Guelph

(Calculated using January average sale price minus average list price).

(This report focuses exclusively on condominium units).


Markert Trends

Examined both Monthly & Quarterly (where applicable)


Number of Sales

Monthly


Sale Prices

Monthly

Quarterly

All 4 Markets experienced significant sale price increases in January to start 2022.

Comparing Q4 2020 to Q4 2021, year-over-year the average sale price…

  • increased 29.7% in Kitchener
  • increased 15.1% in Waterloo
  • increased 29.9% in Cambridge
  • increased 32.5% in Guelph

Price Per Square Foot ($/SQFT)

Monthly

Quarterly

Comparing Q4 2020 to Q4 2021, year-over-year the average price per square foot…

  • increased 36.0% in Kitchener
  • increased 40.2% in Waterloo
  • increased 22.0% in Cambridge
  • increased 22.5% in Guelph

Percentage Sold Above Asking Price

Monthly

  • Almost all units are ending up in multiple offer situations, pushing the sale price far above the asking price.

Days to Sell (Median)

Monthly

  • As the past 12 months 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.

Do you have questions about a selling, purchasing, or renting a condo?

We can help.


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All statistics gathered independently from Kitchener-Waterloo Association of REALTORS®.

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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