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

  • Number of Sales
  • Average Sale Price
  • Days on Market
  • List Price to Sale Price Ratio
  • Days on Market

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

We have pulled the most up to date statistics from the Kitchener-Waterloo Real Estate Board (KWAR) to provide you with the most comprehensive and complete report available.

OVERVIEW

Across the 4 cities we will be covering, in May there were 44 sales condo total.

May 2022 Average Condo Price:

  • Kitchener: $499,992
  • Waterloo: $600,809
  • Cambridge: $551,667
  • Guelph: $591,692

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

  • $70,000 over asking price in Kitchener
  • $35,000 over asking price in Waterloo
  • $12,000 over asking price in Cambridge
  • $1,000 over asking price in Guelph

(Calculated using average sale price multiplied by percentage paid over asking).

(This report focuses exclusively on condominium units).


View Current Condo Listings for Sale


1 Year Trends


Number of Sales

Combined total of sales posted on both KWAR & TRREB

May 2021 vs May 2022 | One Year Change

Kitchener: -16.9%
Waterloo: -12.2%
Cambridge: -30.8%
Guelph: +11.1%


Sale Prices

Weighted average of sales posted on both KWAR & TRREB

May 2021 vs May 2022 | One Year Change

Kitchener: +8.0%
Waterloo: +34.3%
Cambridge: +12.3%
Guelph: +12.1%


Price Per Square Foot ($/SQFT)

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

May 2021 vs May 2022 | One Year Change

Kitchener: +49.5%
Waterloo: +41.8%
Cambridge: +63.0%
Guelph: +36.7%


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
  • 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.


View Current Condo Listings for Sale


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