The February 2021 edition of our Kitchener-Waterloo Single Detached Home 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 February 2021, the Kitchener-Waterloo single detached residential market continued to rise to unprecedented highs and shatter records.
According to the sales reported by the Kitchener-Waterloo Association of REALTORS (KWAR), the average price of a single detached home in February 2021 was $896,011, which is a year-over-year increase of 32.7%. There was a total of 273 sales this February, an increase of +13.8% year-over-year.
(This report focuses exclusively on single detached homes that sold in Kitchener-Waterloo).
12 Month Trends
Number of Sales vs Inventory
- Year-Over-Year Sales: February sales rose +13.8% from 240 in 2020 to 273 in 2021.
- Year-Over-Year New Listings: New listings in February increased +14.9% from 308 in 2020 to 354 in 2021.
- Month-Over-Month Sales: Sales climbed +70.6% this month from 160 in January to 273 in February.
- Month-Over-Month New Listings: New Listings increased +81.5% this month from 195 in January to 354 in February.
Average & Median Sale Prices
- Year-Over-Year Average: February average sale prices rose +32.7% from $675,360 in 2020 to $896,011 in 2021.
- Year-Over-Year Median: February median sale prices rose +29.6% from $628,750 in 2020 to $815,000 in 2021.
- Month-Over-Month Average: The average price rose +7.6% this month from $832,939 in January to $896,011 in February.
- Month-Over-Month Median: The median price +1.8% this month from $801,000 in January to $815,000 in February.
Price Per Square Foot ($/SQFT)
- Year-Over-Year: In February, the average price per square foot rose +11.9% from $403/SQFT in 2020 to $451/SQFT in 2021.
- Month-Over-Month: The average price per square foot rose +0.5% this month from $449/SQFT in January to $451/SQFT in February.
List Price to Sell Price Ratio
- Year-Over-Year: In February 2021, homes were selling for 118.8% of asking price, a +13.8% increase from February 2020’s 105.0%.
- Month-Over-Month: The average list price to sell ratio rose +3.0% this month from 115.8% in January to 118.8% in February.
- The lack of inventory in Kitchener-Waterloo created multiple offer situations in the majority of all sales.
- Almost all homes in the city sold significantly over asking price.
Days to Sell (Median)
- Year-Over-Year: In February 2021, homes were selling in 6 days, a -25.0% decrease from February 2020’s 8 DOM.
- Month-Over-Month: The average days on market rose 20% this month from 5 in January to 6 in February.
Neighbourhood Focus (Year to Date)
Number of Sales
|Neighbourhood||Jan-Feb 2021||Jan-Feb 2020||% Change|
|Laurentian Hills/Country Hills||40||31||29.03%|
|Columbia Forest/Clair Hills||20||21||-4.76%|
|Downtown Kitchener/East Ward||20||10||100.00%|
|Uptown Waterloo/North Ward||16||18||-11.11%|
|Grand River North||16||5||220.00%|
|Colonial Acres/East Bridge||15||4||275.00%|
|Beechwood Forest/Highland W.||10||8||25.00%|
|Hidden Valley/Pioneer Tower||7||6||16.67%|
|Downtown Kitchener/W. Ward||7||7||–|
|Alpine Village/Country Hills||7||2||250.00%|
|Upper Beechwood/Beechwood W.||3||6||-50.00%|
- Pioneer Park / Doon / Wyldwoods was the top producing neighbourhood YTD for the second year in a row, with 49 single detached homes sales.
- Colonial Acres / East Bridge experienced the most growth year-over-year, increasing from 4 single detached homes sales in 2020 to 15 in 2021.
Average Sale Price
|Neighbourhood||Jan-Feb 2021||Jan-Feb 2021||% Change|
|Hidden Valley/Pioneer Tower||$1,648,186||$1,180,417||39.63%|
|Colonial Acres/East Bridge||$1,250,392||$814,325||53.55%|
|Upper Beechwood/Beechwood W.||$1,160,333||$733,000||58.30%|
|Columbia Forest/Clair Hills||$1,000,340||$727,939||37.42%|
|Grand River North||$943,401||$624,400||51.09%|
|Beechwood Forest/Highland W.||$839,501||$643,125||30.53%|
|Laurentian Hills/Country Hills||$786,245||$570,137||37.90%|
|Downtown Kitchener/W. Ward||$734,429||$493,836||48.72%|
|Alpine Village/Country Hills||$726,414||$630,000||15.30%|
|Uptown Waterloo/North Ward||$717,938||$575,278||24.80%|
|Downtown Kitchener/East Ward||$679,205||$547,700||24.01%|
- Hidden Valley / Pioneer Tower continues to produce the highest average sale price in the city ($1,648,186 YTD 2021).
- Upper Beechwood / Beechwood W. experienced the most growth year-over-year, with the average single detached sale price increasing 58.3% from $733,000 YTD in 2020 to $1,160,333 YTD in 2021.
All statistics gathered independantly from Kitchener–Waterloo 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.
Share This Article:
Follow Us on Instagram
Real Estate Group 🏡
Home Design Inspo 📷
Kitchener-Waterloo, Stratford, Lake Simcoe, GTA
@ChristiesRealEstate x @chestnutparkhomes 🌎