Kitchener/Waterloo Market Update For August

September 19, 2022 | Kitchener/Waterloo

Kitchener/Waterloo Market Update For August

Below you will find a Kitchener/Waterloo Market Update For August, which will provide you with information on the local real estate market and recent sales activity in your specific area. Don’t hesitate to contact us if you have any questions or if you are ready to move forward with the next step!

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Kitchener/Waterloo Market Update For August

The Numbers

Although the Kitchener/Waterloo real estate isn’t accelerating, the foot has come off the brakes. 

August real estate stats indicate the declining market may be nearing the bottom. Other markets, such as Guelph and Cambridge, are showing the same.   

The average sale price is down 3% from July 2022 in Kitchener/Waterloo, and that difference seems to get smaller and smaller each month. Condos were down 9%, while detached and attached housing were only down 2%.

The number of sales is still slow, but it did increase by 15% from July to August 2022. We typically don’t see an increase until September.

Interest Rates

The interest increase of 75 basis points was in the expected range of 50 to 75.  It doesn’t seem to have impacted the market. Active listing shrunk in the first two weeks of September, and prices remained flat.  

Opportunities In This Market

Now is an excellent market for first-time buyers to jump in and for upsizers looking to sell their smaller homes and buy something more significant.

 It is also perfect for Investors with prices down and rent higher; it is possible to find more properties that will have a positive cash flow. The interest rate will continue to increase slightly but it likely won’t be long-lived. Buyers are qualified at a higher interest rate and can take advantage of lower housing prices, putting them in an excellent position when the interest rates do drop.  

I am Brad Wylde with GoWylde Real Estate, a group of real estate professionals passionate about helping people grow their wealth through real estate.

Neighbourhood Statistics


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