The May 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

For the 2nd consecutive month, prices are continuing to drop ever so slightly.

According to the sales reported by the Kitchener-Waterloo Association of REALTORS (KWAR), the average price of a single detached home in May 2021 was $865,350, which is a year-over-year increase of 34.9%. There was a total of 415 sales this May, an increase of +100.5% 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: May sales rose +100.5% from 207 in 2020 to 415 in 2021.
  • Year-Over-Year New Listings: New listings in May increased +85.9% from 277 in 2020 to 515 in 2021.
  • Month-Over-Month Sales: Sales declined +0.2% this month from 416 in April to 415 in May.
  • Month-Over-Month New Listings: New Listings fell -10.4% this month from 575 in April to 515 in May.

Average & Median Sale Prices

  • Year-Over-Year Average: May average sale prices rose +34.9% from $641,372 in 2020 to $865,350 in 2021.
  • Year-Over-Year Median: May median sale prices rose +19.4% from $612,000 in 2020 to $730,950 in 2021.
  • Month-Over-Month Average: The average price fell -3.0% this month from $891,811 in April to $865,350 in May.
  • Month-Over-Month Median: The median dropped -10.0% this month from $812,300 in April to $730,950 in May.

Price Per Square Foot ($/SQFT)

  • Year-Over-Year: In May, the average price per square foot rose +8.6% from $407/SQFT in 2020 to $442/SQFT in 2021.
  • Month-Over-Month: The average price per square foot rose +1.6% this month from $435/SQFT in April to $442/SQFT in May.

List Price to Sell Price Ratio

  • Year-Over-Year: In May 2021, homes were selling for 113.8% of asking price, a +13.8% increase from May 2020’s 100.0%.
  • Month-Over-Month: The average list price to sell ratio fell +0.3% this month from 113.5% in April to 113.8% in May.
  • Almost all homes in the city sold significantly over asking price.

Days to Sell (Median)

  • Year-Over-Year: In May 2021, homes were selling in 7 days, a -41.7% decrease from May 2020’s 12 DOM.
  • Month-Over-Month: May was the first month since December 2020 in which homes took longer than 6 days to sell.

Neighbourhood Focus (Year to Date)

Number of Sales

NeighbourhoodJan-May 2021Jan-May 2020% Change
Pioneer Park/Doon/Wyldwoods19312949.6%
Laurentian Hills/Country Hills1528090.0%
Uptown Waterloo/North Ward885463.0%
Forest Hill875655.4%
Idlewood/Lackner Woods8743102.3%
Colonial Acres/East Bridge8134138.2%
Columbia Forest/Clair Hills794383.7%
Forest Heights764185.4%
Downtown Kitchener/East Ward7533127.3%
Heritage Park/Rosemount663588.6%
Lexington/Lincoln Village605020.0%
Stanley Park/Centreville5424125.0%
Glenridge/Lincoln Heights5421157.1%
Huron Park502692.3%
Grand River North4413238.5%
Uptown Waterloo/Westmount4044(-9.1%)
Downtown/Rockway/S. Ward403033.3%
Alpine Village/Country Hills3715146.7%
Lakeshore North3410240.0%
Beechwood Forest/Highland W.312334.8%
Downtown Kitchener/W. Ward3011172.7%
Hidden Valley/Pioneer Tower289211.1%
Upper Beechwood/Beechwood W.201266.7%
Victoria Hills191258.3%
  • Pioneer Park / Doon / Wyldwoods was the top producing neighbourhood YTD for the second year in a row, with 193 single detached homes sales.
  • Grandriver North experienced the most growth year-over-year, increasing from 13 single detached homes sales in 2020 to 44 in 2021.
  • Uptown Waterloo/Westmount is the only neighbourhood in the city that has experienced less sales in 2021 than 2020.

Average Sale Price

NeighbourhoodJan-May 2021Jan-May 2020% Change
Hidden Valley/Pioneer Tower$1,715,161$1,470,97216.6%
Upper Beechwood/Beechwood W.$1,164,135$807,66744.1%
Colonial Acres/East Bridge$1,159,365$808,52143.4%
Idlewood/Lackner Woods$1,061,194$761,15539.4%
Columbia Forest/Clair Hills$1,021,586$753,02835.7%
Pioneer Park/Doon/Wyldwoods$1,005,742$744,57735.1%
Lexington/Lincoln Village$988,734$776,98427.3%
Uptown Waterloo/Westmount$937,016$740,13926.6%
Huron Park$899,090$703,32027.8%
Lakeshore North$894,032$663,04034.8%
Beechwood Forest/Highland W.$871,638$646,96634.7%
Grand River North$838,209$604,07338.8%
Laurentian Hills/Country Hills$791,477$586,33135.0%
Forest Heights$787,490$571,07637.9%
Heritage Park/Rosemount$780,282$563,72338.4%
Glenridge/Lincoln Heights$776,736$563,33337.9%
Alpine Village/Country Hills$759,007$557,63336.1%
Stanley Park/Centreville$755,959$575,73431.3%
Forest Hill$729,513$546,40633.5%
Forest Hill$729,513$546,40633.5%
Downtown Kitchener/W. Ward$718,760$513,82339.9%
Downtown Kitchener/East Ward$713,592$579,99423.0%
Victoria Hills$707,268$510,21838.6%
Uptown Waterloo/North Ward$693,075$546,04926.9%
Downtown/Rockway/S. Ward$671,995$504,05633.3%
  • Hidden Valley / Pioneer Tower continues to produce the highest average sale price in the city ($1,715,161 YTD 2021).
  • Upper Beechwood / Beechwood W. experienced some of the most growth year-over-year, with the average single detached sale price increasing 44.1% from $807,667 YTD in 2020 to $1,164,135 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.

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