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The September 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 Stats
  • 3rd Quarter Stats

Prices experienced another significant spike this month for the first increase since March.

According to the sales reported by the Kitchener-Waterloo Association of REALTORS (KWAR), the average price of a single detached home in September 2021 was $949,167 which is a year-over-year increase of 26%. There was a total of 225 sales this September, a decrease of -37.8% 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: September sales fell -37.8% from 362 in 2020 to 225 in 2021.
  • Year-Over-Year New Listings: New listings in September decreased -31.0% from 465 in 2020 to 321 in 2021.
  • Month-Over-Month Sales: Sales declined -31.0% this month from 261 in August to 225 in September.
  • Month-Over-Month New Listings: New Listings rose -20.2% this month from 267 in August to 321 in September.

Average & Median Sale Prices

  • Year-Over-Year Average: September average sale prices rose +26.0% from $753,305 in 2020 to $949,167 in 2021.
  • Year-Over-Year Median: September median sale prices rose +27.6% from $667,500 in 2020 to $851,500 in 2021.
  • Month-Over-Month Average: The average price increased +7.2% this month from $884,826 in August to $949,167 in September.
  • Month-Over-Month Median: The median rose +3.2% this month from $825,000 in August to $851,500 in September.

Price Per Square Foot ($/SQFT)

  • Year-Over-Year: In September, the average price per square foot rose +18.9% from $391/SQFT in 2020 to $465/SQFT in 2021.
  • Month-Over-Month: The average price per square foot increased +2.4% this month from $454/SQFT in August to $465/SQFT in September.

List Price to Sell Price Ratio

  • Year-Over-Year: In September 2021, homes were selling for 116.2% of asking price, a +9.7% increase from September 2020’s 106.5%.
  • Month-Over-Month: The average list price to sell ratio rose +2.7% this month from 113.5% in August to 116.2% in September.
  • Almost all homes in the city sold significantly over asking price.

Days to Sell (Median)

  • Year-Over-Year: In September 2021, homes were selling in 7 days, the same amount of time as September 2020’s 7 DOM.
  • Month-Over-Month: This is the 5th consecutive month that days on market has remained the same.

Neighbourhood Focus (3rd QTR: July-September)

Number of Sales

NeighbourhoodQ3 2021Q3 2020% Change
Laurentian Hills/Country Hills7079-11.4%
Pioneer Park/Doon/Wyldwoods57111-48.6%
Uptown Waterloo/North Ward443429.4%
Forest Hill4050-20.0%
Downtown Kitchener/East Ward38365.6%
Colonial Acres/East Bridge3754-31.5%
Forest Heights3668-47.1%
Columbia Forest/Clair Hills3667-46.3%
Idlewood/Lackner Woods3252-38.5%
Heritage Park/Rosemount3041-26.8%
Uptown Waterloo/Westmount2650-48.0%
Huron Park261844.4%
Lexington/Lincoln Village2552-51.9%
Beechwood Forest/Highland W.23219.5%
Downtown/Rockway/S. Ward2223-4.3%
Stanley Park/Centreville2132-34.4%
Glenridge/Lincoln Heights2122-4.5%
Alpine Village/Country Hills1319-31.6%
Grand River North1021-52.4%
Hidden Valley/Pioneer Tower1029-65.5%
Downtown Kitchener/W. Ward915-40.0%
Victoria Hills616-62.5%
Upper Beechwood/Beechwood W.518-72.2%
Lakeshore North315-80.0%
  • Laurentian Hills/Country Hills was the top producing neighbourhood last quarter, with 70 single detached home sales.
  • Huron Park experienced the most growth year-over-year, increasing from 18 single detached homes sales in Q3 2020 to 26 in Q3 2021.

Median Sale Price

NeighbourhoodQ3 2021Q3 2020% Change
Hidden Valley/Pioneer Tower$1,309,500$1,200,0009.1%
Upper Beechwood/Beechwood W.$1,070,000$943,10013.5%
Colonial Acres/East Bridge$1,060,000$853,25024.2%
Columbia Forest/Clair Hills$1,055,000$770,00037.0%
Pioneer Park/Doon/Wyldwoods$968,000$775,00024.9%
Huron Park$963,500$711,25035.5%
Idlewood/Lackner Woods$957,500$786,00021.8%
Grand River North$952,500$649,90046.6%
Lexington/Lincoln Village$950,000$811,00017.1%
Beechwood Forest/Highland W.$885,000$680,00030.1%
Glenridge/Lincoln Heights$835,000$577,50044.6%
Laurentian Hills/Country Hills$823,500$631,00030.5%
Uptown Waterloo/Westmount$815,000$671,00021.5%
Forest Heights$805,500$637,27826.4%
Lakeshore North$770,000$650,10018.4%
Alpine Village/Country Hills$750,000$575,00030.4%
Stanley Park/Centreville$740,000$597,50023.8%
Forest Hill$730,000$600,50021.6%
Downtown Kitchener/East Ward$720,000$608,00018.4%
Heritage Park/Rosemount$717,950$601,00019.5%
Uptown Waterloo/North Ward$697,500$583,50019.5%
Victoria Hills$681,500$550,00023.9%
Downtown/Rockway/S. Ward$671,251$542,50023.7%
Downtown Kitchener/W. Ward$615,010$539,00014.1%
  • Hidden Valley / Pioneer Tower continues to produce the highest median sale price in the city ($1,309,500 Q3 2021).
  • Trussler experienced the most growth year-over-year, with the median single detached sale price increasing 50.6% from $780,000 in Q3 2020 to $1,175,000 in Q3 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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