Sales in the Kitchener-Waterloo, Cambridge & Guelph housing markets experienced a 60% decline in real estate activity at the peak of the pandemic, but according to the RE/MAX Fall Market Outlook Report, average home prices managed to remain steady. With many sellers holding off on listing their homes during the spring, the current market is seeing an increased amount of activity due to pent-up demand, with multiple offers on homes, sometimes in the double digits, not uncommon.
Looking ahead, market optimism will be very closely tied with the number of available jobs in the region; should employers in Kitchener-Waterloo begin to relocate to the United States, depending on the strength of the Canadian dollar and the number of American companies currently operating in the region, average home prices could potentially fall. However, the Kitchener-Waterloo housing market is currently in strong seller’s territory across the board (residential, recreational and luxury property segments), with many buyers looking to purchase larger recreational properties with more space given the cancellation of travel plans and a growing desire to move away from densely populated areas.
