2017 real estate in KW

Detached home prices in Kitchener Waterloo up 21.5% in 2017


Total residential sales volume in Kitchener Waterloo tops 3 billion

Here are the year end numbers

There were 6,549 homes sold in Kitchener-Waterloo and area in 2017

The year finished strong with 301 home sales in December, 13 percent above the previous 5 year average.

Sales in 2017 consisted of

  • 4,005 detached homes (down 4.2 percent)
  • 1,461 condo units (down 2.9 percent)
  • 545 semi-detached houses (up 27.6 percent) and
  • 467 freehold townhouses (up 10.9 percent).

Supply was low and demand was high. This lead to rising prices and low “days on market”. The average days it took to market a home in 2017 was 19 days, as compared to the ten year average of 43 days

2017 marked the very first time sales have actually exceeded the 3 billion dollars milestone

Dollar quantity of all real estate sold increased 19.5 each cent to just over three billion ($ 3,061,739,723).

  • The average list price of all properties sold in 2017 increased 20.7 percent to $467,513 compared to 2016.
  • Detached houses sold for an average price of $549,046, an increase of 21.5 percent contrasted to 2016.
  • During this same period, the typical price for an condominium apartment was $271,940 for a rise of 18.3 percent.
  • Townhouses and semis sold for approximately $353,692 (up 23.6 percent) and $378,275 (up 25.9 per cent) respectively.

2017 real estate in KWThe median price of all properties sold last year increased 21.1 percent to $429,900.

The median price of a detached home rose 22 percent to $495,000.

602 properties were leased through our local MLD in 2017, a 40% increase as compared to 2016.

Source: KWAR