Waterloo’s real estate market is recovering profusely. A few months back the real estate market featured only a few segments of properties such as condominiums, and it was witnessing a monthly increase in the number of sales of properties. The overheated real estate market is cooling down rapidly. According to recent reports, the residential real estate property rates across Waterloo were down by 4.9% and 1.2% less in July 2021. However, the real estate market is currently getting stabilized.
In addition, the current real estate market of Waterloo is witnessing a higher demand for residential properties, and such properties are generating higher rental yield and ROI (Return on Investment). This factor is making Waterloo’s real estate market more balanced and stable. The properties of Waterloo are fit for both residential and investment purposes.
Market Trend for Sale in Waterloo
The Waterloo housing market, as things stand, is largely a seller's market and that is anticipated to continue in 2022. There is an ever-increasing demand for residential properties. On the other hand, the supply to fulfil the real estate market’s demand is relatively lower than the demand for such properties.
In addition, it is believed that last year (2021) the townhomes witnessed the largest increase in the average sale price which rose by 32.3% and was followed by signal detached properties by CAD 912,00 from CAD 719,723 which is about 26.8%. Moreover, the condos also witnessed a hike in the sale price of properties by about CAD 440,002 from CAD 397,294 which is about 10.8% higher.
Real Estate Brokerage Trend in Waterloo
The real estate brokerage trend in Waterloo examines the market development in Canada. The trends give the manufacturers an idea and understanding of what the current real estate market demands. The configuration, carpet areas, furnishing state and so on.
Real Estate MLS Listings and Investments in Waterloo
The real estate resale market is expected to grow. However, the MLS price growth and residential property sales are still elevated.
In 2022, the resale real estate market in Waterloo is expected to see an elevation in the real estate market, even though the market is still tight with months of inventory. The supply is at its all-time low of 0.29 and the new listing ratio is about 0.84 in December.
One of the factors boosting the real estate market of Waterloo is economic growth, especially since the real estate market is driven by high-income sectors.
In addition, Waterloo's real estate market is still affordable market compared to other metropolitan areas such as Toronto. However, due to the current high pressure on the market, trends and other tight market conditions are also playing their part in raising the price of real estate properties.
The increase in the price of the real estate property is directly proportional to the elevated debt on the inhabitants who are options for mortgage financing. The hike in the price of the properties can put a negative impact on the overall real estate market resulting in a rise in interest rates.
Market Stats Report of Waterloo
To facilitate the community cluster amenities for the inhabitants of Waterloo such as educational institutions, healthcare facilities, roadways connectivity, and other social services, the policymakers should consider the growth rate and the population size. Waterloo is witnessing an influx of inhabitants and becoming one of the fastest-growing municipalities in Canada.
Check out the market stats report data in the tabulated form to get a better understanding.
| Type of Property |
Years (Units Sold)
|
|
2019 |
2020 |
2021 |
2022 |
2023 (Forecast) |
| Single-Detached |
898 |
859 |
885 |
850 |
950 |
| Multiples |
4,579 |
2,890 |
4,717 |
4,250 |
4.850 |
Demographic & Population Ratio in Waterloo
Waterloo is recognised as a knowledge economy and also home to think tanks, insurance companies, and finance and education hotspots. Due to these facilities, the space is witnessing an influx of people, some of the other factors playing a part in attracting expats are recreational facilities, festivals, museums, events and so on.
The Waterloo region has a population cap of 623,930 as of 2022. The region was one of the most populous Census Metropolitan Areas (CMA) in Canada, where there were around 583,500 residents in 2016. Waterloo is growing exponentially in terms of population and has been one of the rapidly growing regions in Ontario.
The workforce population in Waterloo is about 147,560 including temporary residents and students. The medial age in Waterloo is 36 and the population percent between 20 and 34 years old is about 27.6%.
Real Estate Brokerage Trends in Waterloo
The real estate brokerage trends in Waterloo examine the market development in Canada. These trends give the manufacturers an understanding of what the current real estate market demands. The configuration, carpet areas, furnishing state and so on. The study of real estate brokerage trends in Waterloo assists real estate developers in the creation of fully equipped properties as per the market demands.
The real estate brokerage trends in Waterloo examines the market development in Canada. These trends give the manufacturers an understanding of what the current real estate market demands. The configuration, carpet areas, furnishing state and so on. The study of real estate brokerage trends in Waterloo assists real estate developers in the creation of fully equipped properties as per the market demands.
Waterloo Neighbourhoods
Check out the below-mentioned information to know about Waterloo’s neighbourhoods-
| Neighbourhood |
| Milford Avenue |
| ERB Street |
| James Street |
| King Street North |
| Lester Street |
| Bridgeport Road |
| Columbia Street |
| Westmount |
| Maple Hills |
...
Frequently Asked Questions (FAQs)
How many homes for sale are available in Waterloo?
In Waterloo, there are around 750+ homes available for sale with different configurations and amenities. However, the number may vary due to the rapid sale and purchase of the property.
How many residential properties are available in Waterloo?
In Waterloo, a number of 710 residential properties are available for sale. However, the number may vary due to the rapid sale and purchase of the property.
What is the median home price in Waterloo?
The average median home price in Waterloo is CAD 700,000. However, the average property price is subject to change depending on the property condition and valuation.
What is the average price of a condo property in Waterloo?
The average price of a Condo Property in Waterloo is around 525,000. However, the average property price is subject to change depending on the property valuation and condition.
Can Foreigners/expats buy property in Waterloo?
Canada has an open door for foreigners/expats to make investments in properties for both commercial and residential avenues. Moreover, non-residents have the same ownership rights as residents.
Which property is best to buy in Waterloo?
There is no such this as the best property to buy in Waterloo. This is a very subjective question that has different answers for different investment avenues. However, Waterloo’s real estate market features an ample amount of residential and commercial units to choose from, with different configurations amenities and carpet areas.
Are detached or semi-detached properties for sale available in Waterloo?
Yes, there are several detached or semi-detached properties available for sale in Waterloo. Visit the Square Yards official website to know more about property availability and prices.
Does Square Yards tell the property's listing history in Waterloo?
Yes, the official website of Square Yards provides the listing history of the property along with the date. For future queries, visit the official website of Square Yards.
What are the offered amenities of Waterloo Property for sale?
The top-notch amenities of a property for sale in Waterloo include air conditioning, parking space, a fireplace, a pet-friendly space, elevators, a heating system, an art centre, a golf course, and so on.
What is the minimum and maximum property price range in Waterloo?
The minimum and maximum property price range in Waterloo is around CAD 350,000 and 1,500,000. However, the minimum and maximum property price range is subject to change depending on the market valuation and calculation.
