December Caps Off a Big Year in Local Real Estate

January 7, 2021

December was another busy month for home sales in Kitchener-Waterloo, capping off a memorable and dynamic 2020 for local real estate.

While the first half of the year lagged due to the pandemic, the second half roared back and then some, setting sales records for six consecutive months. When all was said and done, there were 6492 residential home sales in KW in 2020, 9% more than 2019. Prices also continued their upward trend, with the average sale coming in at $612,521, a 16.1% increase over prior year.

December itself saw tremendous demand, with 42% more properties being sold in 2020 over the same month in 2019. The average sale price for the month of December was $634,545, an increase of 14.4% over December 2019.

As we enter into 2021, we expect the market to remain hot in KW. Between continued low interest rates, pandemic-inspired changes in lifestyle, and the increasing desirability of living in our region, our seatbelts are fastened for another busy year ahead.

If 2021 is the year for you to make a move, we are here to help!