With the average detached home price in Kitchener-Waterloo reaching $907,690 many local buyers have begun to expand their search to nearby towns within commuting distance. One area we are noticing an increase in activity is our neighbour to the west in Stratford.
Why are Kitchener-Waterloo residents purchasing homes in Stratford? Well, the most obvious factor is price. Last quarter (July-September), detached homes in Stratford sold for 28% less than KW, at an average price of $655,949. The chart below demonstrates the difference in price between Kitchener-Waterloo and Stratford categorized by home types.
The benefits of buying in Stratford go much beyond just lower home prices. Stratford is a special place that offers a lifestyle like no other in Ontario. Voted Canada’s premiere town for the arts, residents and tourists experience it in all its forms including live theatre, visual arts and hand-crafted works displayed in seven galleries all located in the heart of the city. The town also gained an outstanding reputation for culinary cuisine which is showcased at some of the finest restaurants in the country.
Stratford is poised for significant economic growth. It offers one of the lowest unemployment rates in the country (pre-pandemic), and has quietly transformed itself into a high-tech hub and a world leader in digital infrastructure. The town even boasts a unique municipal-wide broadband network. If you’re interested in learning more about the Stratford real estate market, feel free to reach out to us. We would love to chat.