As 2021 has come to a close, the real estate market in South-Western Ontario can only be described as one thing – a Sellers market. Thanks to low residential inventory in our area, prices have been pushed up which has resulted in to more and more bidding wars.
To better help visualize the real estate situation, the team here at R.W. Dyer Realty have compiled statistics through the Cambridge Association of REALTORS® Multiple Listings System and put them into the graphics below.
For your comparison, statistics for the rest of 2021 are linked here:
- 2021 – 3rd Quarter Real Estate Review
- 2021 – 2nd Quarter Real Estate Review
- 2021 – 1st Quarter Real Estate Review
Kitchener-Waterloo 4th Quarter Real Estate Sales Statistics
The Kitchener-Waterloo area had the highest average residential real estate sales price of all of our key areas. Sale prices on average were up over 30% compared to the same period in 2020. The number of freehold sales were down due to low inventory however properties were selling quickly. On average, properties sold for 17.5% higher than the list price.
Cambridge & Area 4th Quarter Real Estate Sales Statistics
Residential real estate market in the Cambridge area was also moving fast this quarter, with home selling at an average of 11 days on the market. Average sales prices for freehold and condominum properties were higher than previously seen. Also, homes sold 18.2% higher than they were listed for.
Brantford & Area 4th Quarter Real Estate Sales Statistics
The Brantford and Brant areas have seen a very strong 4th quarter real estate market with regards average residential sales price – up over 34% compared to the same period last year. Low inventory did affect the number of sales, however homes sold within 2 weeks on average.
Guelph & Area 4th Quarter Real Estate Sales Statistics
The Guelph area has traditionally had a strong mix of freehold and condominium properties and this quarter was no different. Low inventory lead to a lower number of total sales compared to 2020. Average residential real estate sales prices were up however and homes were selling for 8% higher than the asking price.
Woodstock 4th Quarter Real Estate Sales Statistics
As more families have chosen to move west, there was a rise in year over year sales for November and December in the Woodstock real estate market. The seat of Oxford County seen an increase in the average sales price this quarter. Homes sold in less than 2 weeks on average in the city and for 10% higher than they were listed for.
Want more statistics?
If you are interested in timely updates on real estate statistics, tune into our Facebook, Twitter and Instagram accounts on Friday mornings where we publish weekly statistics for what has been happening in Waterloo Region real estate.
If you would rather have more detailed statistics about residential or commercial real estate transactions in your neighbourhood, please call our office at 519-653-5353 and ask to speak to a member of our sales team, or reach out to us through our Contact page. We would love to help you understand the world of real estate in your area!