January 26, 2023 | Kitchener/Waterloo

Kitchener/Waterloo Market Update For December 2022

Below you will find a Kitchener/Waterloo Market Update For December 2022, 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!

Are you signed up for our newsletter yet? In a shifting market, it’s important to stay informed! Sign up for our newsletter here and be the first to know about new listings, market updates, real estate news, and more! Sign up here:

Kitchener/Waterloo Market Update For December 2022

The Numbers

December ended a crazy year in Kitchener/Waterloo real estate market that we are unlikely to see again. The insane bidding wars and rapid price increases ended in March as the BOC started its unprecedented rate hikes.

The average sales price year over year was down 16%, but if you look at the average price from March 2020 (which was pre-pandemic) to December 2022, prices are up 18.8%. That is a very healthy appreciation in less than two years.  

Although the number of homes sold in 2022 was down from the previous year, they were very much in line with what we have seen in the previous decade. 

Interest Rates

The average sales prices and interest rates seem to have stabilized. There was a minor 25 basis points, which is stated to be the final increase if inflation continues to decrease. 

Interest will start to decrease 2nd half of this year or early next year.  Home prices have likely bottomed out and will begin to increase again this year.

Opportunities In This Market

Now is a perfect time for people looking to buy their first home, investors, or upsizers; prices are low, and there is not too much competition. Interest will go down, so don’t lock in for more than a year or two.  

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


Click here for Active Listings In Kitchener

Click here for Sold Listings In This Area


Click here for Active Listings In This Area

Click here for Sold Listings In This Area

If you found the Kitchener/Waterloo Market Update For December 2022, make sure you sign up to receive our quarterly KW market updates directly to your inbox!

If you have any questions about buying or selling in KW feel free to reach out!

GoWylde Newsletter