The March 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 March 2021, we finally saw a few key indicators of the market beginning to flatten out.

According to the sales reported by the Kitchener-Waterloo Association of REALTORS (KWAR), the average price of a single detached home in March 2021 was $901,212, which is a year-over-year increase of 33.3%. There was a total of 522 sales this March, an increase of +73.4% 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: March sales rose +73.4% from 301 in 2020 to 522 in 2021.
  • Year-Over-Year New Listings: New listings in March increased +52.5% from 478 in 2020 to 729 in 2021.
  • Month-Over-Month Sales: Sales climbed +91.2% this month from 273 in February to 522 in March.
  • Month-Over-Month New Listings: New Listings increased +105.9% this month from 354 in February to 729 in March.

Average & Median Sale Prices

  • Year-Over-Year Average: March average sale prices rose +33.3% from $675,946 in 2020 to $901,212 in 2021.
  • Year-Over-Year Median: March median sale prices rose +33.0% from $625,000 in 2020 to $831,000 in 2021.
  • Month-Over-Month Average: The average price rose +0.5% this month from $896,440 in February to $901,212 in March.
  • Month-Over-Month Median: The median price +2.0% this month from $815,000 in February to $831,000 in March.

Price Per Square Foot ($/SQFT)

  • Year-Over-Year: In March, the average price per square foot rose +12.2% from $409/SQFT in 2020 to $459/SQFT in 2021.
  • Month-Over-Month: The average price per square foot rose +1.8% this month from $451/SQFT in February to $459/SQFT in March.

List Price to Sell Price Ratio

  • Year-Over-Year: In March 2021, homes were selling for 117.4% of asking price, a +13.8% increase from March 2020’s 103.6%.
  • Month-Over-Month: The average list price to sell ratio fell +1.4% this month from 118.8% in February to 117.4% in March.
  • Almost all homes in the city sold significantly over asking price.

Days to Sell (Median)

  • Year-Over-Year: In March 2021, homes were selling in 6 days, a -25.0% decrease from March 2020’s 8 DOM.
  • Month-Over-Month: The average days on market remained the same this month compared to last.

Neighbourhood Focus (Year to Date)

Number of Sales

NeighbourhoodJan-Mar 2021Jan-Mar 2021% Change
Pioneer Park/Doon/Wyldwoods998417.9%
Laurentian Hills/Country Hills W725335.8%
Forest Heights512788.9%
Forest Hill473630.6%
Idlewood/Lackner Woods443046.7%
Columbia Forest/Clair Hills443333.3%
Colonial Acres/East Bridge4216162.5%
Uptown Waterloo/North Ward413613.9%
Downtown Kitchener/East Ward382458.3%
Heritage Park/Rosemount332250.0%
Glenridge/Lincoln Heights3014114.3%
Grand River North299222.2%
Lexington/Lincoln Village28280.0%
Huron Park271942.1%
Alpine Village/Country Hills2412100.0%
Uptown Waterloo/Westmount2334-32.4%
Stanley Park/Centreville231735.3%
Downtown/Rockway/S. Ward221369.2%
Lakeshore North225340.0%
Hidden Valley/Pioneer Tower187157.1%
Beechwood Forest/Highland W.1617-5.9%
Downtown Kitchener/W. Ward151136.4%
Upper Beechwood/Beechwood W.10911.1%
Victoria Hills8714.3%
  • Pioneer Park / Doon / Wyldwoods was the top producing neighbourhood YTD for the second year in a row, with 99 single detached homes sales.
  • Lakeshore North experienced the most growth year-over-year, increasing from 5 single detached homes sales in 2020 to 22 in 2021.

Average Sale Price

NeighbourhoodJan-Mar 2021Jan-Mar 2021% Change
Hidden Valley/Pioneer Tower$1,670,794$1,504,64311.0%
Colonial Acres/East Bridge$1,126,690$834,23835.1%
Upper Beechwood/Beechwood W.$1,098,760$780,33340.8%
Idlewood/Lackner Woods$1,069,033$760,40340.6%
Columbia Forest/Clair Hills$1,022,418$744,96137.2%
Pioneer Park/Doon/Wyldwoods$1,016,280$730,85839.1%
Lexington/Lincoln Village$942,102$825,31514.2%
Lakeshore North$941,832$715,20031.7%
Uptown Waterloo/Westmount$940,876$767,98322.5%
Huron Park$918,752$716,71828.2%
Grand River North$866,473$595,27245.6%
Beechwood Forest/Highland W.$851,110$638,01333.4%
Forest Heights$785,828$566,30038.8%
Laurentian Hills/Country Hills W$784,490$596,78431.5%
Glenridge/Lincoln Heights$780,175$564,21438.3%
Heritage Park/Rosemount$779,576$575,55935.4%
Alpine Village/Country Hills$758,599$548,70838.3%
Forest Hill$744,593$545,52136.5%
Stanley Park/Centreville$743,990$592,04325.7%
Victoria Hills$723,875$490,50047.6%
Downtown Kitchener/East Ward$714,924$585,24222.2%
Uptown Waterloo/North Ward$700,345$549,71927.4%
Downtown Kitchener/W. Ward$697,504$513,82335.7%
Downtown/Rockway/S. Ward$677,263$535,28126.5%
  • Hidden Valley / Pioneer Tower continues to produce the highest average sale price in the city ($1,670,794 YTD 2021).
  • Upper Beechwood / Beechwood W. experienced some of the most growth year-over-year, with the average single detached sale price increasing 40.8% from $780,333 YTD in 2020 to $1,098,760 YTD in 2021.

All statistics gathered independantly 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.

Share This Article:

Follow Us on Instagram

Happy Halloween! 🎃

Photo via @nola_val

#halloween #halloweendecor #halloweendecorations #halloweendog #dogcostume #curbappeal #whitehome #whiteexterior

15 1

A warm interior on chilly Ontario morning

via @anthology_creative_studio

#livingroomideas #pictureframemoulding #millwork #millworkdesign #mouldings #ceilingmedallion #crownmolding #scandinaviandesign #scandinavianhome #modernboho #warmtones #whiteinterior

8 0

There are rooms with a view, and then there are bathrooms with a view. What better way to end your day than in this freestanding tub.

Design @candaceplotzdesign
Photo @patrickbiller
Builder @jeffery_homes

#bathroomdesign #bathroomdecor #bathroomremodel #bathroominspiration #bathroomrenovation #bathroomsofinstagram #freestandingbath #freestandingtub #kitchenerwaterloo #stratfordontario

10 1

It’s no secret that green has been trending in a major way lately. Not only does the leafy shade conjure the sensation of being outdoors after two years cooped up at home, it also is a versatile (and welcome) alternative to traditional colors like white and gray.

via @pcdsackitchens

#greenkitchen #greeninterior #traditionalkitchen #tranditionalinteriors #transitionaldesign #skylights #customkitchen #kitchenremodel #kitchenerwaterloo

27 2

The kitchen is the heart of the home 🤍


#kitchendesign #kitchendecor #kitchenremodel #kitchenremodel #marblekitchen #kitchenerwaterloo #stratfordon #transitionaldesign

13 0

Tags: , , ,