The pandemic has hit hard at waterloo and Kitchener. The prices of the property are soaring high. It has been highest they have even been in a decade. The real estate prices were found out to have a jump up to 21 percent as compared to July 2019. The average price of a home in Kitchener – Waterloo has surpassed $700,000 mark.

The reason for such an upsurge in prices is likely from low supply, which has been there for nine consecutive months, according to the Kitchener – waterloo association of realtors. 

Taking into account all types of residential properties, the average home sold for $639,814 last month, also up more than a fifth. The average sale prices are broken down as follows:

• Detached home: $745,149 (up 21.4 per cent compared to July 2019)
• Semi-detached home: $522,872 (up 20.4 per cent compared to July 2019)
• Townhome: $465,756 (up 12.8 per cent compared to July 2019)
• Apartment-style condo: $392,770 (up 15.2 per cent compared to July 2019)

The total number of homes available for sale in active status at the end of July was 592, a decrease of 32.6 per cent, compared to July of last year.

Here’s what an average price of a detached home in waterloo and Kitchener region can get you in other cities: 

Meaford, Ont.: $729,000

• 2+1 bedrooms, 3 bathrooms; 2,000 square feet
• Panoramic open bay views
• Rooftop deck

Chatham-Kent, Ont.: $748,000

• 4 bedrooms, 2 baths on five acres of land
• Fireplace, two wells, detached triple garage
• Two outbuildings used for horses

Toronto, Ont.: $749,900

• 2+3 bedrooms, 2 bathrooms;
• Desirable neighbourhood
• Four-car parking and new shed

Trent Lakes, Ont.: $750,000

• 2+1 bedrooms, 2 bathrooms on 13 acres
• 500 square feet of White Lake waterfront
• Log home with woodstove and propane heat

Montreal, Que.: $749,000

• 3 bedrooms, 1 bathroom built in 1875

• Same family owned since 1933
• Wood accents inside

Long Point, N.S.: $750,000

• 4+1 bedrooms, 4 bathrooms on several acres
• Retreat along western coastline of Cape Breton Island
• Swimming pool, fireplace

Torbay, N.L.: $729,900

• 4 bedrooms, 3 bathrooms on two acres
• Minutes from a city, in-ground heated pool
• Herringbone hardwood floors

Whitehorse, YK: $749,000

• 4 bedrooms, 2.5 bathrooms, 2,800 square feet
• 13-foot pine vaulted ceilings
• Mountain views

Winnipeg, Man.: $729,900

• 2 bedrooms, 2 bathrooms, 1,500 square feet
• Open concept, 18-foot ceilings
• Remote blinds throughout

Vancouver, B.C., $729,000

• 4 bedrooms, 4 bathrooms, 1,500 square feet
• Hardwood throughout, 12,000 square foot lot
• Close to schools, airport and shopping

Cortes Island, B.C.: $749,000

• 3 bedrooms, 1 bathroom on 9.88 acres
• 30 foot dock on Boulder Point, 1,500 feet of waterfront
• Access to 100+ acres of walking trails