Kitchener City Real Estate Market:
The Kitchener real estate market showcases its own unique dynamics and trends, offering a diverse array of options for prospective homeowners and investors. It is a mix of stability, growth, and a plethora of options across various property types. Kitchener MLS® current statistics indicate an average house price of $951,972 and 411 new listings in the last 28 days. As of today, housing data for Kitchener shows median days on the market for a home is 15 days.
Listings on the Market:
Kitchener real estate market currently presents 321 active listings for homes, catering to various housing preferences within the region. There are 150 townhome listings available, appealing to those seeking a balanced lifestyle with distinctive property types. The market features 179 condominium listings, providing diverse choices for individuals inclined towards modern urban living.
Average Listing Price in February:
In February, the average listing price for homes in Kitchener has stabilized at $983.1K, showcasing consistency in this segment. Townhome listings reflect an average listing price of $631.4K, exhibiting a steady pricing trend within the market. Condominiums maintain an average listing price of $488.8K, offering affordable yet attractive housing options.
Change in Average Listing Price:
The average listing price for homes has experienced no change, indicating stability and a well-balanced market trend. Townhome listings have seen a 0.93% increase in their average listing price, suggesting a subtle upward trend in this segment. The average listing price for condos remains consistent, reflecting the market’s equilibrium without any fluctuations.
Average SOLD Price in February:
The average sold price for homes in Kitchener in February stands at $985.4K, demonstrating stability and value in this property segment. Townhome properties have witnessed an average sold price of $676K, showcasing a desirable investment prospect within the city. Condominiums exhibit an average sold price of $449K, indicating a cost-effective yet appealing choice for potential buyers.
Change in Average SOLD Price:
There has been a 5.55% increase in the average sold price for homes, portraying a positive growth trajectory in this real estate sector. Townhome properties have seen a notable 5.95% surge in the average sold price, indicating an upward trend and increased demand. Condominiums experienced no change in the average sold price, maintaining a consistent value in the market.
Inventory & SOLD Statistics:
With 936 new listings in the past 60 days and 196 homes sold within the same period, Kitchener’s real estate market reflects a robust turnover and a healthy buyer-seller interaction.
The townhome sector witnessed 368 new listings and 78 homes sold in the last 60 days, emphasizing consistent demand and active transactions.
Condos showcased 276 new listings and 52 homes sold in the past 60 days, indicating a steady market pace catering to diverse buyer preferences.
Properties in Kitchener spend an average of 12 days on the market, showcasing a swift turnover rate. Additionally, boasting an impressive selling-to-listing price ratio of 101.48% for homes, 101.51% for townhomes, and 100.13% for condos, the market demonstrates a strong inclination towards favourable deals and fair market values.
Real Estate Market Trends and Average Listings Price in Kitchener in February
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