The January 2021 edition of our Kitchener-Waterloo Condominium Unit Report will examine:

  • Number of New Listings
  • Number of Sales
  • Average & Median Sale Price
  • Days on Market
  • List Price to Sale Price Ratio
  • Neighbourhood Specific Results

In January 2021, the Kitchener-Waterloo condominium market was not excluded from the bounty of residential sales activity across Southern Ontario.

According to the sales reported by the Kitchener-Waterloo Association of REALTORS (KWAR), the median price of a condominium unit in January 2021 was $365,900, which is a year-over-year increase of +11.1%. There was a total of 71 sales this January, an increase of +97.2% year-over-year.

(This report focuses exclusively on condominium units that sold in Kitchener-Waterloo).

12 Month Trends

Number of Sales vs Inventory

  • Year-Over-Year Sales: January sales rose +97.2% from 36 in 2020 to 71 in 2021.
  • Year-Over-Year New Listings: New listings in January rose +7.9% from 76 in 2020 to 82 in 2021.
  • Month-Over-Month Sales: Sales rose +12.7% this month from 163 in December to 71 in January.
  • Month-Over-Month New Listings: New Listings increased +74.5% this month from 47 in December to 82 in January.

Average & Median Sale Prices

  • Year-Over-Year Average: January average sale prices dropped -1.4% from $389,216 in 2020 to $383,721 in 2021.
  • Year-Over-Year Median: January median sale prices rose +11.1% from $329,450 in 2020 to $365,900 in 2021.
  • Month-Over-Month Average: The average price rose +1.6% this month from $383,196 in December to $383,721 in January.
  • Month-Over-Month Median: The median price increased +2.4% this month from $357,500 in December to $365,900 in January.

Price Per Square Foot ($/SQFT)

  • Year-Over-Year: In January, the average price per square foot rose +5.7% from $425/SQFT in 2020 to $449/SQFT in 2021.
  • Month-Over-Month: The average price per square foot rose +5.4% this month from $426/SQFT in December to $449/SQFT in January.

List Price to Sell Price Ratio

  • Year-Over-Year: In January 2021, condos were selling for 100% of asking price, the exact same percentage as January 2020.
  • Month-Over-Month: The average list price to sell ratio rose +0.7% this month from 99.3% in December to 100% in January.

Days to Sell (Median)

  • Year-Over-Year: In January 2021, condos were selling in 36 days, a -7.7% decrease from January 2020’s 39 DOM.
  • Month-Over-Month: The average days on market rose +12.5% this month from 32 in December to 36 in January.

Neighbourhood Focus

Number of Sales

Neighbourhood Jan 2021 Jan 2020% Change
Downtown Kitchener/W. Ward132550.0%
Uptown Waterloo/Westmount9650.0%
Uptown Waterloo/North Ward770.0%
Downtown/Rockway/S. Ward51400.0%
Downtown Kitchener/East Ward51400.0%
Glenridge/Lincoln Heights440.0%
Laurentian Hills/Country Hills W440.0%
Pioneer Park/Doon/Wyldwoods110.0%
Alpine Village/Country Hills01-100.0%
Heritage Park/Rosemount01-100.0%
  • Downtown Kitchener/W. Ward was the top producing neighbourhood in January, with 13 condo sales.
  • Downtown Kitchener/W. Ward experienced the most growth year-over-year, increasing from 2 condo sales in 2019 to 13 in 2020. Followed by Downtown Kitchener/East Ward & Downtown/Rockway/S. Ward.

Average Sale Price

Neighbourhood Jan 2021 Jan 2020% Change
Uptown Waterloo/Westmount$458,033$621,300-26.3%
Laurentian Hills/Country Hills W$443,225$416,4256.4%
Uptown Waterloo/North Ward$405,200$325,18624.6%
Downtown Kitchener/W. Ward$385,185$387,500-0.6%
Glenridge/Lincoln Heights$381,225$321,90718.4%
Downtown Kitchener/East Ward$356,200$380,000-6.3%
Downtown/Rockway/S. Ward$321,500$586,000-45.1%
Pioneer Park/Doon/Wyldwoods$300,000$291,0003.1%
Alpine Village/Country Hills$310,000
Heritage Park/Rosemount$299,900
  • Hidden Valley / Pioneer Tower continues to produce the highest average sale price in the city ($458,033 in January 2021).
  • Chicopee/Freeport experienced the most growth year-over-year, with the average condo sale price increasing 39.9% from $261,456 in January 2020 to $365,700 in January 2021.

All statistics gathered from KitchenerWaterloo Association of REALTORS® (KWAR).

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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