April 2020 Kitchener-Waterloo Housing Market Update
Thursday May 07th, 2020Share
APRIL HOME SALES IMPACTED BY COVID-19 PANDEMIC, HOME PRICES REMAIN STRONG
The current pandemic has had a major impact on home sales in the Waterloo region. With everyone doing their part to flatten the curve and doing their best to self-isolate, the buying and selling of homes have been greatly reduced.
- There were 227 residential homes sold through the MLS® System of the Kitchener-Waterloo Association of REALTORS® in April, a decrease of 63.6 per cent compared to the same month last year, and the lowest number of sales in a single month since December 2008.
- Total residential sales in April included 145 detached homes (down 63.3 per cent), 22 condominium apartments (down 71.1 per cent), 44 townhouses (down 61.1 per cent) and 16 semi-detached homes (down 60 per cent).
- The average sale price of all residential properties sold in April increased 7.3 per cent to $568,738 compared to the same month last year, while detached homes sold for an average price of $657,042 an increase of 7.3 per cent. During this same period, the average sale price for an apartment-style condominium was $367,230 for an increase of 8.1 per cent. Townhomes and semis sold for an average of $406,463 (up 0.4 per cent) and $491,816 (up 13.3 per cent) respectively.
- The total number of homes available for sale in active status at the end of April was 571, a decrease of 36.6 per cent compared to April of last year.
- The average days to sell in April was 19 days, compared to 21 days in April 2019.