Waterloo Region Housing Market Stats – October 2021
This video provides a summary of the Waterloo Region housing market stats for the month of October, 2021. With the number of active listings reaching historically low levels, it is clear that critically low inventory levels are continuing to drive market prices up. Lets take a look at some of the key metrics (relative to October, 2020):
- Median Sales Price was $791,000 – ↑ 34.0%
- Average Sale Price per Sq.ft. was $472 – ↑ 26.5%
- Total Number of Listings was 855 – ↓ 21.1%
- Total Number of Sales was 815 – ↓ 13.2%
October sale prices were on the rise in nearly every segment of the market throughout the region. Waterloo Region’s median sale price landed at $791,000 – an incredible 34% increase over October 2020’s figure.
The number of new listings to the Region decreased by over 21%, while the number of home sales decreased by 13.2%. With the reduction of new listings outpacing the lower number of sales, we continue to see rising prices.
With the sales to new listing ratio being above 80%, we are considered to be in a hot seller’s market. Buyers are feeling the heat with incredibly fierce competition, and seller’s are reaping the rewards resulting for the competitive market.
If you are considering buying or selling in this market, it is important to have a discussion with a trusted professional. Please feel free to reach out to me any time.
CLICK HERE to view the full Market Report for October 2021.
