Kitchener Real Estate Statistics

Kitchener Real Estate Price Trend
Kitchener real estate average sold price in the last 30 days (August 17 - September 15) was $764,780, which is $17,229 (2.3 %) higher than the average price of $747,551 in the previous 30 day period (July 18 - August 16), and $180,223 (23.6 %) up from the same period 1 year ago ($584,557). Kitchener real estate prices over the last 30 days are also $68,010 (8.9 %) higher than the average selling price of $696,770 over the past year.
Kitchener average sold price for homes was $896,418 in the last 30 days (August 17 - September 15), which is $43,400 (4.8 %) up from the average home price of $853,018 in the previous 30 day period (July 18 - August 16), and $218,296 (24.4 %) higher than the same period 1 year ago ($678,122). In the last 30 days Kitchener the average home price was $96,867 (10.8 %) higher than the average selling price of $799,551 over the last 12 months.
Average Kitchener condo sold price over the last 30 days (August 17 - September 15) was $394,357. During this period it was $25,476 (6.5 %) down from the average price of condo of $419,833 during the previous 30 days (July 18 - August 16), and $11,765 (3.0 %) higher compared to the same period 1 year ago ($382,592). In the last 30 days Kitchener the average condo price was $15,600 (4.0 %) lower than the average selling price of $409,957 over the last year.
Average sold price of Kitchener townhouse was $634,628 in the last 30 days (August 17 - September 15), up $27,965 (4.4 %) from the average townhome price of $606,663 over the previous 30 days (July 18 - August 16), and $140,328 (22.1 %) higher than during to the same period 1 year ago ($494,300). Over the last 30 days the average townhouse price in Kitchener was $60,214 (9.5 %) higher compared to the average selling price of $574,414 over the last 12 months.
Sold Price Above/Below Asking ($)
Average selling price for Kitchener real estate was $764,780 in the last 30 days (August 17 - September 15), which is collectively $68,417 (9.4 %) higher than the average asking price of $726,683. This represents a decline of $10,543 (13.4 %) compared to $78,960 (11.1 %) Sold-Over-Asking price from the previous 30 day period (July 18 - August 16).
The maximum Sold Over/Under Asking ratio in Kitchener during the last 12 months was recorded in February, 2021 with an average of $103,784 over the asking price, while the minimum occurring in September, 2020 with $7,177 above the asking price.
Sales to New Listings Ratio
Sales to New Listings Ratio (SNLR) represents the number of sales in relation to new inventory listed over a period of time. SNLR for all property types in Kitchener was 166.2 % with 123 properties sold and 87 new properties listed in the past 30 days (August 17 - September 15). This represents a decrease from 185.1 % recorded during the previous 30 day period (July 18 - August 16), and an increase from 108.7 % compared to the same period one year ago.
Over the the last year the highest SNLR in Kitchener was 269.0 % recorded in July and the lowest was in January at 105.7 %. SNLR of under 40% generally represents the Buyers' Market, while 60% and above - the Sellers' Market, with 40% to 60% range signaling a balanced market.
Average Days on Market when Sold vs Delisted
The Average Days on the Market (DOM) for 123 properties that were successfully sold in Kitchener in the last 30 days (August 17 - September 15) was 8 days, which is 2 days less than 10 days average in the previous 30 day period (July 18 - August 16) and 7 days shorter than during the same period a year ago (15 days).
There were 36 delisted properties in Kitchener, those that got either Expired, Suspended or Terminated over the last 30 days (August 17 - September 15) with an average of 43 days on the market. This is 3 days shorter than the average of 46 days during the previous 30 day period (July 18 - August 16) and 11 days more compared to the same period last year average of 32 days on the market.
36 Kitchener properties that didn't sell stayed on the market 437.5 % longer than 123 that sucessfully sold over the last 30 days - 8 days when sold vs 43 days when delisted respectively.
Average Days on the Market in Kitchener over the past 12 months for properties that have sold was 11.5 days, with 37.2 days for those properties that did not sell.
New Real Estate Listings vs Sold/Delisted
74 new properties were listed on the market in Kitchener in the last 30 days (August 17 - September 15). During the same time 123 properties were sold and 36 listings were removed from the market (Expired, Suspended or Terminated), which represents a decrease in total inventory by 85 properties (or 114.9 %).
During the previous 30 day period (July 18 - August 16) there were 87 new properties listed, 161 sold and 45 properties that did not sell and were removed from the market.
Over the past year the busiest month for new listings was March with 176 new properties listed, the slowest - December with 39 new listings and a yearly average of 86 new listings per month.
New Real Estate Listings by Property Type
There were a total of 36 homes listed during the last 30 days (August 17 - September 15), which is 48.6 % of all properties listed in Kitchener. This is a 32.1 % decline compared with a previous 30 day period (July 18 - August 16) and 21.7 % down from the same period a year ago. Over the past year an average of 51 homes are were listed per month.
12 condo units were listed in the last 30 days (August 17 - September 15) in Kitchener, which represents 16.2 % of all new listings. This is down 25.0 % from the prior 30 day period (July 18 - August 16) and 20.0 % less compared to the same period last year. There were 12 condos listed per month on average during the last 12 months.
26 townhomes were listed over the last 30 days (August 17 - September 15) in Kitchener, which is 35.1 % of all new real estate inventory. This is a 44.4 % more than during the previous 30 day period (July 18 - August 16) and 16.1 % decrease compared to the same period a year ago. During the last year the average number of townhomes listed stood at 23 a month.
Real Estate Sales by Property Type
There were a total of 74 homes sold during the last 30 days (August 17 - September 15), which is 60.2 % of all properties sold in Kitchener. This is a 31.5 % decline compared with a previous 30 day period (July 18 - August 16) and 29.8 % up from the same period a year ago. Over the past year an average of 89 homes are were sold per month.
14 condo units were sold in the last 30 days (August 17 - September 15) in Kitchener, which represents 11.4 % of all sold properties. This is down 33.3 % from the prior 30 day period (July 18 - August 16) and 7.7 % more compared to the same period last year. There were 16 condos sold per month on average during the last 12 months.
35 townhomes were sold over the last 30 days (August 17 - September 15) in Kitchener, which is 28.5 % of all sold real estate. This is a 9.4 % more than during the previous 30 day period (July 18 - August 16) and 16.7 % increase compared to the same period a year ago. During the last year the average number of townhomes sold stood at 35 a month.
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