Kitchener Real Estate Statistics

Kitchener Real Estate Price Trend
Kitchener real estate average sold price in the last 30 days (May 23 - June 21) was $719,376, which is $34,358 (4.8 %) lower than the average price of $753,734 in the previous 30 day perdiod (April 23 - May 22), and $102,652 (14.3 %) up from the same period 1 year ago ($616,724). Kitchener real estate prices over the last 30 days are also $68,239 (9.5 %) higher than the average selling price of $651,137 over the past year.
Kitchener average sold price for homes was $809,227 in the last 30 days (May 23 - June 21), which is $28,039 (3.5 %) down from the average home price of $837,266 in the previous 30 day perdiod (April 23 - May 22), and $145,915 (18.0 %) higher than the same period 1 year ago ($663,312). In the last 30 days Kitchener the average home price was $70,104 (8.7 %) higher than the average selling price of $739,123 over the last 12 months.
Average Kitchener condo sold price over the last 30 days (May 23 - June 21) was $434,500. During this period it was $12,955 (3.0 %) down from the average price of condo of $447,455 during the previous 30 days (April 23 - May 22), and $66,867 (15.4 %) higher compared to the same period 1 year ago ($367,633). In the last 30 days Kitchener the average condo price was $43,760 (10.1 %) higher than the average selling price of $390,740 over the last year.
Average sold price of Kitchener townhouse was $616,654 in the last 30 days (May 23 - June 21), down $8,364 (1.4 %) from the average townhome price of $625,018 over the previous 30 days (April 23 - May 22), and $135,291 (21.9 %) higher than during to the same period 1 year ago ($481,363). Over the last 30 days the average townhouse price in Kitchener was $80,830 (13.1 %) higher compared to the average selling price of $535,824 over the last 12 months.
Sold Price Above/Below Asking ($)
Average selling price for Kitchener real estate was $719,376 in the last 30 days (May 23 - June 21), which is collectively $73,930 (10.6 %) higher than the average asking price of $699,213. This represents a decline of $4,197 (5.4 %) compared to $78,127 (10.9 %) Sold-Over-Asking price from the previous 30 day period (April 23 - May 22).
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 May, 2020 with $6,195 below 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 193.6 % with 182 properties sold and 120 new properties listed in the past 30 days (May 23 - June 21). This represents an increase from 190.0 % recorded during the previous 30 day period (April 23 - May 22), and an increase from 76.5 % compared to the same period one year ago.
Over the the last year the highest SNLR in Kitchener was 201.8 % recorded in November and the lowest was in April at 46.4 %. 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 182 properties that were successfully sold in Kitchener in the last 30 days (May 23 - June 21) was 8 days, which is 1 days more than 7 days average in the previous 30 day period (April 23 - May 22) and 24 days shorter than during the same period a year ago (32 days).
There were 71 delisted properties in Kitchener, those that got either Expired, Suspended or Terminated over the last 30 days (May 23 - June 21) with an average of 25 days on the market. This is 2 days longer than the average of 23 days during the previous 30 day period (April 23 - May 22) and 12 days less compared to the same period last year average of 37 days on the market.
71 Kitchener properties that didn't sell stayed on the market 212.5 % longer than 182 that sucessfully sold over the last 30 days - 8 days when sold vs 25 days when delisted respectively.
Average Days on the Market in Kitchener over the past 12 months for properties that have sold was 15.1 days, with 39.4 days for those properties that did not sell.
New Real Estate Listings vs Sold/Delisted
94 new properties were listed on the market in Kitchener in the last 30 days (May 23 - June 21). During the same time 182 properties were sold and 71 listings were removed from the market (Expired, Suspended or Terminated), which represents a decrease in total inventory by 159 properties (or 169.1 %).
During the previous 30 day period (April 23 - May 22) there were 120 new properties listed, 228 sold and 87 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 - April with 28 new listings and a yearly average of 82 new listings per month.
New Real Estate Listings by Property Type
There were a total of 50 homes listed during the last 30 days (May 23 - June 21), which is 53.2 % of all properties listed in Kitchener. This is a 34.2 % decline compared with a previous 30 day period (April 23 - May 22) and 0.0 % down from the same period a year ago. Over the past year an average of 49 homes are were listed per month.
16 condo units were listed in the last 30 days (May 23 - June 21) in Kitchener, which represents 17.0 % of all new listings. This is down 23.8 % from the prior 30 day period (April 23 - May 22) and 23.1 % more compared to the same period last year. There were 11 condos listed per month on average during the last 12 months.
28 townhomes were listed over the last 30 days (May 23 - June 21) in Kitchener, which is 29.8 % of all new real estate inventory. This is a 21.7 % more than during the previous 30 day period (April 23 - May 22) and 55.6 % increase compared to the same period a year ago. During the last year the average number of townhomes listed stood at 22 a month.
Real Estate Sales by Property Type
There were a total of 116 homes sold during the last 30 days (May 23 - June 21), which is 63.7 % of all properties sold in Kitchener. This is a 25.2 % decline compared with a previous 30 day period (April 23 - May 22) and 141.7 % up from the same period a year ago. Over the past year an average of 69 homes are were sold per month.
20 condo units were sold in the last 30 days (May 23 - June 21) in Kitchener, which represents 11.0 % of all sold properties. This is down 0.0 % from the prior 30 day period (April 23 - May 22) and 566.7 % more compared to the same period last year. There were 12 condos sold per month on average during the last 12 months.
46 townhomes were sold over the last 30 days (May 23 - June 21) in Kitchener, which is 25.3 % of all sold real estate. This is a 13.2 % less than during the previous 30 day period (April 23 - May 22) and 318.2 % increase compared to the same period a year ago. During the last year the average number of townhomes sold stood at 27 a month.
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