The May edition of our Tri-Cities 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

SUMMARY

For the second consecutive month, sale prices have declined in the Tri-Cities, following a similar trend as the rest of the province.

May Average Home Prices in:

  • Kitchener: $951,217
  • Waterloo: $1,058,374
  • Cambridge: $900,568

How Much Over Asking Are Homes Selling For in Kitchener, Waterloo, and Cambridge? In May, on average…

  • Kitchener: Sold on average $111,000 over asking price
  • Waterloo: Sold on average $154,000 over asking price
  • Cambridge: Sold on average $77,000 over asking price

(This report focuses exclusively on single detached homes that sold in Kitchener-Waterloo).


View Current Homes for Sale


12 Month Trends


Number of Sales

  • Kitchener: Year-Over-Year decrease of -24.0% in May 2022 vs 2021.
  • Waterloo: Year-Over-Year decrease of -2.7% in May 2022 vs 2021.
  • Cambridge: Year-Over-Year decrease of -22.7% in May 2022 vs 2021.

Average Sale Prices

  • Kitchener: Year-Over-Year increase of +13.8% in May 2022 vs 2021.
  • Waterloo: Year-Over-Year increase of +11.7% in May 2022 vs 2021.
  • Cambridge: Year-Over-Year increase of +7.2% in May 2022 vs 2021.

Median Sale Prices

  • Kitchener: Year-Over-Year increase of +13.4% in May 2022 vs 2021.
  • Waterloo: Year-Over-Year increase of +13.4% in May 2022 vs 2021.
  • Cambridge: Year-Over-Year increase of +11.7% in May 2022 vs 2021.

Price Per Square Foot ($/SQFT)

  • Kitchener: Year-Over-Year increase of +3.2% in May 2022 vs 2021.
  • Waterloo: Year-Over-Year increase of +8.2% in May 2022 vs 2021.
  • Cambridge: Year-Over-Year decrease of -0.4% in May 2022 vs 2021.

Percentage Sold Above Asking Price

  • Kitchener: Year-Over-Year decrease of -7.2% in May 2022 vs 2021.
  • Waterloo: Year-Over-Year decrease of -3.0% in May 2022 vs 2021.
  • Cambridge: Year-Over-Year decrease of -9.7% in May 2022 vs 2021.

Days to Sell (Median)

  • Tri-Cities: The amount of days a home is selling in has remained fairly consistent, at about one week. This is largely due to listing agents scheduling a specific offer date, set for one week after the home goes on the market.

View Current Homes for Sale


Kitchener-Waterloo Neighbourhood Focus

Average Sale Prices | Year-to-Date (Jan-May 2022)

Neighbourhood20222021Change
Hidden Valley/Pioneer Tower$1,863,012$1,715,1619%
Upper Beechwood/Beechwood W.$1,535,596$1,153,93833%
Beechwood/University$1,361,291$1,047,43930%
Colonial Acres/East Bridge$1,359,137$1,159,36517%
Columbia Forest/Clair Hills$1,334,274$1,023,57530%
Idlewood/Lackner Woods$1,312,683$1,061,19424%
Pioneer Park/Doon/Wyldwoods$1,305,348$1,005,74230%
Trussler$1,286,387$932,42138%
Erbsville/Laurelwood$1,251,246$1,019,37023%
Huron Park$1,249,214$899,09039%
Lexington/Lincoln Village$1,195,217$988,73421%
Westvale$1,102,500$876,70926%
Grand River North$1,082,996$838,23229%
Beechwood Forest/Highland W.$1,074,297$871,63823%
Bridgeport$1,069,999$858,76625%
Chicopee/Freeport$1,065,685$819,70430%
Uptown Waterloo/Westmount$1,052,252$937,01612%
Forest Heights$1,000,028$788,18527%
Laurentian Hills/Country Hills$993,583$791,87925%
Alpine Village/Country Hills$990,206$759,00730%
Lakeshore/Parkdale$966,263$748,95229%
Stanley Park/Centreville$962,667$755,95927%
Glenridge/Lincoln Heights$960,001$776,73624%
Lakeshore North$941,147$894,0325%
Heritage Park/Rosemount$929,781$780,28219%
Forest Hill$908,350$728,86925%
Fairview/Kingsdale$888,746$694,96928%
Downtown Kitchener/East Ward$873,091$713,59222%
Uptown Waterloo/North Ward$864,949$694,71925%
Downtown Kitchener/W. Ward$835,190$718,76016%
St Jacobs/Floradale/W.Montrose$710,000$460,00054%
Downtown/Rockway/S. Ward$762,455$671,99513%
Victoria Hills$808,762$707,26814%

Number of Sales | Year-to-Date (Jan-May 2022)

Neighbourhood20222021Change
Pioneer Park/Doon/Wyldwoods126193-35%
Laurentian Hills/Country Hills W.118152-22%
Forest Heights897716%
Idlewood/Lackner Woods88871%
Forest Hill7787-11%
Uptown Waterloo/North Ward7287-17%
Downtown Kitchener/East Ward6875-9%
Lexington/Lincoln Village676012%
Huron Park555010%
Heritage Park/Rosemount5266-21%
Erbsville/Laurelwood512976%
Columbia Forest/Clair Hills4678-41%
Uptown Waterloo/Westmount454013%
Westvale444010%
Colonial Acres/East Bridge4381-47%
Fairview/Kingsdale39368%
Lakeshore/Parkdale3850-24%
Alpine Village/Country Hills3537-5%
Stanley Park/Centreville3254-41%
Beechwood Forest/Highland W.32313%
Downtown/Rockway/S. Ward2940-28%
Grand River North2744-39%
Glenridge/Lincoln Heights2454-56%
Chicopee/Freeport24234%
Victoria Hills211911%
Downtown Kitchener/W. Ward2130-30%
Beechwood/University2038-47%
Hidden Valley/Pioneer Tower1828-36%
Bridgeport1722-23%
Upper Beechwood/Beechwood W.1621-24%
St Jacobs/Floradale/W.Montrose11[n/a]
Trussler26-67%

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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