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Home Buyers & Sellers

Waterloo Region Housing Market Stats – November 2020

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This video provides a summary of the Waterloo Region housing market stats for the month of November, 2020.  Our Real Estate Board changed our data system a few months ago, which created complications with compiling accurate and reliable stats.  I am now confident that we have accurate stats, so I will carry on with these update videos each month.  Needless to say, the market has continued to strengthen, and remains a very hot sellers market.  Lets take a look at some of the key metrics:

– Median Sales Price was $600,000 – ↑ 16.5% (relative to November 2019)

– Median Days on Market was 7 days – ↓ 10 days

– Total Number of Sales was 837 – ↑ 33.7%

– Total Number of Listings was 892 – ↑ 33.9%

In Waterloo Region, we are seeing significant growth in new listings and new sales.  However, the Region was carrying low inventory levels heading into the month of November, so the increase in new listings wasn’t enough to slow down the market.  The inventory levels remain at about 1 month’s supply, which keeps the Region categorized as a hot sellers market.

As we head into the holiday season, there doesn’t seem to be any indication that buyers are becoming fatigued and exiting the market.  As such, it appears that we will continue to see prices continue to rise for the foreseeable future.

CLICK HERE for a full analysis of the market stats.

If you have any questions about the market, or are thinking about buying or selling, please feel free to reach out to me.  I am always here to help!

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