While sales were down relative to last month and last August, they remained well above average notes KWAR’s president, Nicole Pohl. “The main reason for the decrease is simply that last month was the first full month in Step 3 of the reopening, and people were tired of the lockdown,” says Pohl. “They got out and enjoyed their summer and shifted their real estate needs to the back burner for a much-needed change of focus.”
Total residential sales in August included 299 detached (down 30.6 percent from August 2020), and 80 condominium units (down 1.2 percent). Sales also included 38 semi-detached homes (down 2.6) and 118 townhouses (down 13.2 percent).
In August, the average sale price for all residential properties in the Kitchener-Waterloo area was $753,296. This represents a 19.3 percent increase over August 2020 and a 0.3 percent decrease compared to July 2021.
- The average price of a detached home was $895,756. This represents a 22.5 percent increase from August 2020 and a decrease of 1.3 percent compared to July 2021.
- The average sale price for an apartment-style condominium was $445,280. This represents an increase of 18.2 percent from August 2020 and an increase of 3.7 percent compared to July 2021.
- The average sale price for a townhouse was $623,767. This represents a 26.1 percent increase from August 2020 and an increase of 0.1 percent compared to July 2021.
- The average sale price for a semi was $683,048. This represents an increase of 26.5 percent compared to August 2020 and an increase of 2.3 percent compared to July 2021.
For the full report from the Kitchener-Waterloo Association of Realtors, click here.