The January 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 January 2021, the Kitchener-Waterloo single detached residential 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 average price of a single detached home in January 2021 was $814,108, which is a year-over-year increase of 28.2%. There was a total of 177 sales this January, an increase of +27.3% 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: January sales rose +27.3% from 139 in 2020 to 177 in 2021.
- Year-Over-Year New Listings: New listings in January dropped -9.7% from 238 in 2020 to 215 in 2021.
- Month-Over-Month Sales: Sales dropped -3.8% this month from 184 in December to 177 in January.
- Month-Over-Month New Listings: New Listings increased +41.5% this month from 152 in December to 215 in January.
Average & Median Sale Prices
- Year-Over-Year Average: January average sale prices rose +28.2% from $634,900 in 2020 to $814,108 in 2021.
- Year-Over-Year Median: January median sale prices rose +31.7% from $590,000 in 2020 to $777,000 in 2021.
- Month-Over-Month Average: The average price rose +10.9% this month from $734,186 in December to $814,108 in January.
- Month-Over-Month Median: The median price +13.9% this month from $682,101 in December to $777,000 in January.
Price Per Square Foot ($/SQFT)
- Year-Over-Year: In January, the average price per square foot rose +51.9% from $297/SQFT in 2020 to $451/SQFT in 2021.
- Month-Over-Month: The average price per square foot rose +7.4% this month from $420/SQFT in December to $451/SQFT in January.
List Price to Sell Price Ratio
- Year-Over-Year: In January 2021, homes were selling for 116.7% of asking price, a +11.3% increase from January 2020’s 104.9%.
- Month-Over-Month: The average list price to sell ratio rose +4.6% this month from 111.6% in December to 116.7% in January.
- 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)
- Homes in Kitchener-Waterloo sold in an all-time low number of days on market this month.
- Year-Over-Year: In January 2021, homes were selling in 6 days, a -25.0% decrease from January 2020’s 8 DOM.
- Month-Over-Month: The average days on market dropped -14.3% this month from 7 in December to 6 in January.
Number of Sales
|Neighbourhood||Jan 2021||Jan 2020||% Change|
|Laurentian Hills/Country Hills||18||8||125.0%|
|Columbia Forest/Clair Hills||11||5||120.0%|
|Downtown Kitchener/East Ward||10||1||900.0%|
|Uptown Waterloo/North Ward||5||5||0.0%|
|Beechwood Forest/Highland W.||4||5||-20.0%|
|Colonial Acres/East Bridge||4||1||300.0%|
|Alpine Village/Country Hills||3||1||200.0%|
|Downtown Kitchener/W. Ward||3||2||50.0%|
|Grand River North||3||2||50.0%|
|Hidden Valley/Pioneer Tower||2||2||0.0%|
|Upper Beechwood/Beechwood W.||1||3||-66.7%|
- Pioneer Park / Doon / Wyldwoods was the top producing neighbourhood in January for the second year in a row, with 26 single detached homes sales.
- Downtown Kitchener / East Ward experienced the most growth year-over-year, increasing from 1 single detached homes sales in 2019 to 10 in 2020.
Average Sale Price
|Neighbourhood||Jan 2021||Jan 2020||% Change|
|Hidden Valley/Pioneer Tower||$1,331,500||$1,222,500||8.9%|
|Colonial Acres/East Bridge||$944,444||$456,000||107.1%|
|Grand River North||$913,775||$568,500||60.7%|
|Columbia Forest/Clair Hills||$910,882||$706,280||29.0%|
|Beechwood Forest/Highland W.||$865,250||$606,400||42.7%|
|Laurentian Hills/Country Hills||$754,683||$570,269||32.3%|
|Alpine Village/Country Hills||$730,333||$405,000||80.3%|
|Upper Beechwood/Beechwood W.||$660,000||$596,667||10.6%|
|Downtown Kitchener/East Ward||$657,110||$621,500||5.7%|
|Downtown Kitchener/W. Ward||$625,033||$375,300||66.5%|
|Uptown Waterloo/North Ward||$617,200||$580,600||6.3%|
- Hidden Valley / Pioneer Tower continues to produce the highest average sale price in the city ($1,331,500 in January 2021).
- Colonial Acres / East Bridge experienced the most growth year-over-year, with the average single detached sale price increasing 107.1% from $456,000 in 2020 to $944,444 in 2021.
All statistics gathered 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.
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