Waterloo Region Home Sales Moderate in September as Market Continues to Balance

“The September housing market continues to reflect broader economic conditions, with sales remaining below both last year’s levels and the ten-year average,” says Christal Moura, spokesperson for the Waterloo Region market. “While sales volumes have moderated from last year, this shift has created a more balanced market where buyers can take time with their decisions.  Well-priced properties continue to attract attention, and experienced REALTORS® are helping both buyers and sellers navigate these changing conditions successfully.”  

If you are considering to SELL your home or BUY a home in the next short while, 

it would be highly beneficial for you to connect with one of our Team Agents at

The Riz Team

Do you want to know what your home is worth today? Click Below for our Online No Obligation Market Evaluation:

WATERLOO REGION, ON (October 3, 2025) —In September, a total of 502 homes were sold in the Waterloo Region via the Multiple Listing Service® (MLS®) System of the Cornerstone Association of REALTORS® (Cornerstone). This represents a 4.7 per cent decrease compared to the same period last year and a decline of 25.0 per cent compared to the average number of homes sold in the previous ten years for the same month. 

Total residential sales in September included 325 detached homes (down 4.1 per cent from September 2024), and 91 townhouses (down 5.2 per cent). Sales also included 51 condominium units (down 13.6 per cent) and 34 semi-detached homes (up 6.3 per cent).  

In September, the average sale price for all residential properties in Waterloo Region was $753,162. This represents a 4.7 per cent decrease compared to September 2024 and a 3.2 per cent increase compared to August 2025.  

• The average sale price of a detached home was $858,872. This represents a 5.9 per cent decrease from September 2024 and an increase of 1.4 per cent compared to August 2025.  

• The average sale price for a townhouse was $606,871. This represents a 1.7 per cent increase from September 2024 and an increase of 1.8 per cent compared to August 2025.  

• The average sale price for an apartment-style condominium was $442,086. This represents a 8.9 per cent decrease from September 2024 and an increase of 2.0 per cent compared to August 2025.  

• The average sale price for a semi was $621,026.  This represents a decrease of 5.1 per cent compared to September 2024 and an increase of 0.5 per cent compared to August 2025. 

CORNERSTONE cautions that average sale price information can help establish long-term trends but does not indicate specific properties have increased or decreased in value. The MLS® Home Price Index (HPI) provides the best way to gauge price trends because averages are strongly distorted by changes in the mix of sales activity from one month to the next.   

While prices have softened compared to last year, the market is finding its balance.  Buyers now have more choice due to inventory levels well above the ten-year average. Moura believes that the fundamentals of our region—its diverse economy, dynamic technology ecosystem, and strong talent base—remain solid foundations of our housing market. 

There were 1,469 new listings added to the MLS® System in Waterloo Region last month, an increase 11.0 per cent compared to September last year and a 32.9 per cent increase compared to the previous ten-year average for September.  

The total number of homes available for sale in active status at the end of September was 2,094, an increase of 22.2 per cent compared to September of last year and 79.5 per cent above the previous ten-year average of 1,167 listings for September. 

The total inventory across the market increased by 29.0 percent, resulting in a 4.0-month supply of all property types by the end of September. Condominium apartments had the highest inventory, with 7.3 months’ supply, followed by townhouses with 4.8 months’ supply and detached homes with 3.3 months’ supply. The number of months of inventory represents the time it would take to sell all current inventories at the current sales rate. 

The average time to sell a home in September was 32 days, which was the same in the previous month. In September 2024, it took 28 days for a home to sell, and the five-year average was 19 days. 

Cornerstone Association of REALTORS® cautions that average sale price information can help identify long-term trends but should not indicate that specific properties have increased or decreased in value. The average sale price is calculated based on the total dollar volume of all properties sold. Months’ Supply is the inventory of homes for sale at the end of a given month, divided by the average monthly closed sales from the last 12 months. Those requiring specific information on property values should contact a Waterloo Region REALTOR®. REALTORS® have their fingers on the pulse of the market. They know the questions to ask, the areas to probe and what to look for to get a complete picture of the property and community you’re considering. 

Media Contact: Crystal Henderson, Chief Stakeholder Officer, 905-529-8101 x 242  

ABOUT CORNERSTONE 

Cornerstone Association of REALTORS® (Cornerstone) is a not-for-profit organization with over 325 years of collective service from its founding associations. 

Established on July 1, 2024, Cornerstone leads with purpose, advocates boldly, and creates positive change for the success of our members throughout Mississauga, Burlington, Hamilton, Waterloo Region, Niagara North, Haldimand County, Norfolk County, and surrounding areas. 

With approximately 8,000 members, Cornerstone is the second-largest REALTOR® association in Ontario, dedicated to promoting the greater good of the real estate community. 

More information at www.cornerstone.inc 

The trademarks REALTOR®, REALTORS®, and the REALTOR® logo are controlled by The Canadian Real Estate Association (CREA) and identify real estate professionals who are members of CREA. 

The trademarks MLS®, Multiple Listing Service® and the associated logos are owned by The Canadian Real Estate Association (CREA) and identify the quality of services provided by real estate professionals who are members of CREA. Used under license. 

Waterloo Region Real Estate Market Shows Signs of Stabilization as Interest Rates Hold Steady

“The market is showing signs of stabilization, though we’re seeing a continued cooling trend compared to last year. While sales volumes have only slightly decreased year-over-year, the more notable change is in pricing, with most property types experiencing moderate downward pressure,” says Christal Moura, spokesperson for the Waterloo Region market.  

If you are considering to SELL your home or BUY a home in the next short while, 

it would be highly beneficial for you to connect with one of our Team Agents at

The Riz Team

Do you want to know what your home is worth today? Click Below for our Online No Obligation Market Evaluation:

WATERLOO REGION, ON (September 5, 2025) —In August, a total of 536 homes were sold in the Waterloo Region via the Multiple Listing Service® (MLS®) System of the Cornerstone Association of REALTORS® (Cornerstone). This is a decrease of 1.3 per cent compared with the same period last year and a decline of 23.1 per cent compared to the average number of homes sold in the previous ten years for the same month. 

Total residential sales in August included 320 detached homes (down 5.6 per cent from August 2024), and 101 townhouses (down 1.0 per cent). Sales also included 62 condominium units (up 1.6 per cent) and 50 semi-detached homes (up 25.0 per cent).  

In August, the average sale price for all residential properties in Waterloo Region was $728,465. This represents a 5.5 per cent decrease compared to August 2024 and a 1.0 per cent decrease compared to July 2025.  

• The average sale price of a detached home was $846,405. This represents a 4.6 per cent decrease from August 2024 and a decrease of 1.3 per cent compared to July 2025.  

• The average sale price for a townhouse was $594,200. This represents a 3.2 percent decrease from August 2024 and a 1.7 percent decrease compared to July 2025.  

• The average sale price for an apartment-style condominium was $433,113. This represents a 6.0 per cent decrease from August 2024 and an increase of 4.2 per cent compared to July 2025.  

• The average sale price for a semi was $618,206. This represents a 5.5 per cent decrease from August 2024 and a 4.1 per cent decrease compared to July 2025. 

CORNERSTONE cautions that average sale price information can help establish long-term trends but does not indicate specific properties have increased or decreased in value. The MLS® Home Price Index (HPI) provides the best way to gauge price trends because averages are strongly distorted by changes in the mix of sales activity from one month to the next.   

There were 1,028 new listings added to the MLS® System in Waterloo Region last month, an increase of 3. per cent compared to August last year and a 11.0 per cent increase compared to the previous ten-year average for August.  

The average time to sell a home in August was 32 days, which is the same as the previous month. In August 2024, it took 25 days for a home to sell, and the five-year average was 19 days. 

“Despite the softer market conditions, we are encouraged by the healthy increase in new listings, which gives buyers more options,” says Moura. “While our local market statistics indicate signs of stabilization, we are operating in a complex economic environment. The Bank of Canada’s decision to maintain interest rates at 2.75% for the third consecutive time provides some predictability for both buyers and sellers. However, economic uncertainty and the Bank’s focus on inflation, especially regarding shelter costs, remind us that we are in a period where both buyers and sellers need to stay informed and collaborate closely with their REALTOR® to navigate current market conditions.” 

July Sees Stable Sales and Market Balance in Waterloo Region Housing

“While sales volumes remained stable compared to last year, we’re seeing continued price adjustments across all property types,” says Christal Moura, spokesperson for the Waterloo Region market. “The Bank of Canada’s decision to hold rates steady in July, combined with increased inventory and price moderation, is creating more opportunities for buyers who have been waiting to enter the market, though broader economic uncertainties surrounding the Canada-US trade war continue to impact consumer confidence.” 

If you are considering to SELL your home or BUY a home in the next short while, 

it would be highly beneficial for you to connect with one of our Team Agents at

The Riz Team

Do you want to know what your home is worth today? Click Below for our Online No Obligation Market Evaluation:

WATERLOO REGION, ON (August 7, 2025) —In July, a total of 644 homes were sold in the Waterloo Region via the Multiple Listing Service® (MLS®) System of the Cornerstone Association of REALTORS® (Cornerstone). This is on par with the same period last year and a decline of 14.3 per cent compared to the average number of homes sold in the previous ten years for the same month. 

“While sales volumes remained stable compared to last year, we’re seeing continued price adjustments across all property types,” says Christal Moura, spokesperson for the Waterloo Region market. “The Bank of Canada’s decision to hold rates steady in July, combined with increased inventory and price moderation, is creating more opportunities for buyers who have been waiting to enter the market, though broader economic uncertainties surrounding the Canada-US trade war continue to impact consumer confidence.” 

Total residential sales in July included 383 detached homes (up 0.5 per cent from July 2024), and 123 townhouses (down 5.4 per cent). Sales also included 80 condominium units (down 3.6 per cent) and 55 semi-detached homes (up 14.6 per cent).  

In July, the average sale price for all residential properties in Waterloo Region was $735,082. This represents a 6.0 per cent decrease compared to July 2024 and a 5.7 per cent decrease compared to June 2025.  

• The average sale price of a detached home was $857,579. This represents a 6.2 per cent decrease from July 2024 and a decrease of 4.5 per cent compared to June 2025.  

• The average sale price for a townhouse was $603,245. This represents a 2.8 percent decrease from July 2024 and a 3.5 percent decrease compared to June 2025.  

• The average sale price for an apartment-style condominium was $415,559. This represents a 16.7 per cent decrease from July 2024 and a decrease of 4.4 per cent compared to June 2025.  

• The average sale price for a semi was $644,930. This represents a 3.3 per cent decrease from July 2024 and a 0.6 per cent decrease compared to June 2025. 

CORNERSTONE cautions that average sale price information can help establish long-term trends but does not indicate specific properties have increased or decreased in value. The MLS® Home Price Index (HPI) provides the best way to gauge price trends because averages are strongly distorted by changes in the mix of sales activity from one month to the next.   

There were 1,356 new listings added to the MLS® System in Waterloo Region last month, a decrease of 3.1 per cent compared to July last year and a 21.2 per cent increase compared to the previous ten-year average for July.  

The average time to sell a home in July was 32 days, compared to 27 days in the previous month. In July 2024, it took 22 days for a home to sell, and the five-year average was 17 days. 

“The longer average days on the market reflect that we’re in a more balanced market environment,” Moura says. “This means that buyers can take their time to make informed decisions, while sellers are adjusting their expectations to fit the current market conditions.” 

View our HPI tool here to learn more: https://www.cornerstone.inc/stats/ 

Download PDF Version

Cornerstone Association of REALTORS® cautions that average sale price information can help identify long-term trends but should not indicate that specific properties have increased or decreased in value. The average sale price is calculated based on the total dollar volume of all properties sold. Months’ Supply is the inventory of homes for sale at the end of a given month, divided by the average monthly closed sales from the last 12 months. Those requiring specific information on property values should contact a Waterloo Region REALTOR®. REALTORS® have their fingers on the pulse of the market. They know the questions to ask, the areas to probe and what to look for to get a complete picture of the property and community you’re considering. 

June Housing Stats Point to More Balanced Market in Waterloo Region

“While home sales in June were relatively stable year-over-year, we’re seeing a more balanced market emerge in Waterloo Region. What’s particularly notable is the increase in condominium sales – up over 34% – suggesting a cohort of buyers looking for more affordable housing options,” says Christal Moura, spokesperson for the Waterloo Region market. “While more listings are coming to market, properties are taking a little longer to sell, giving buyers more time to make informed decisions during their home search. 

If you are considering to SELL your home or BUY a home in the next short while, 

it would be highly beneficial for you to connect with one of our Team Agents at

The Riz Team

Do you want to know what your home is worth today? Click Below for our Online No Obligation Market Evaluation:

WATERLOO REGION, ON (July 4, 2025) —In June, a total of 676 homes were sold in the Waterloo Region via the Multiple Listing Service® (MLS®) System of the Cornerstone Association of REALTORS® (Cornerstone). This represents a 0.3 per cent increase compared to the same period last year and a decline of 21.7 per cent compared to the average number of homes sold in the previous ten years for the same month. 

“While home sales in June were relatively stable year-over-year, we’re seeing a more balanced market emerge in Waterloo Region. What’s particularly notable is the increase in condominium sales – up over 34% – suggesting a cohort of buyers looking for more affordable housing options,” says Christal Moura, spokesperson for the Waterloo Region market. “While more listings are coming to market, properties are taking a little longer to sell, giving buyers more time to make informed decisions during their home search. 

Total residential sales in June included 442 detached homes (up 5.6 per cent from June 2024), and 113 townhouses (down 17.4 per cent). Sales also included 86 condominium units (up 34.4 per cent) and 35 semi-detached homes (down 25.4 per cent).  

In June, the average sale price for all residential properties in Waterloo Region was $780,293. This represents a 1.1 per cent decrease compared to June 2024 and a 1.2 per cent decrease compared to May 2025.  

• The average price of a detached home was $896,770. This represents a 0.2 per cent decrease from June 2024 and a decrease of 1.4 per cent compared to May 2025.  

• The average sale price for a townhouse was $624,754. This represents a 6.0 percent decrease from June 2024 and a 1.6 percent decrease compared to May 2025.  

• The average sale price for an apartment-style condominium was $435,435. This represents a 5.7 per cent decrease from June 2024 and an increase of 0.7 per cent compared to May 2025.  

• The average sale price for a semi was $649,039, on par with June 2024 and a 0.5 per cent decrease compared to May 2025. 

CORNERSTONE cautions that average sale price information can help establish long-term trends but does not indicate specific properties have increased or decreased in value. The MLS® Home Price Index (HPI) provides the best way to gauge price trends because averages are strongly distorted by changes in the mix of sales activity from one month to the next.  

“Looking at the HPI benchmark prices, we’re seeing a market that’s adjusting to changing economic conditions. While we’re experiencing some year-over-year price decreases, Waterloo Region’s market fundamentals remain strong, supported by a diversified economy and the region’s appeal as a place of residence for both families and businesses,” says Moura.  “These market shifts underscore the importance of working with a professional REALTOR® who can provide crucial guidance on pricing strategies, market timing, and negotiation. Their expertise helps both buyers and sellers adjust their expectations and make informed decisions in this evolving market environment.”    

There were 1,514 new listings added to the MLS® System in Waterloo Region last month, an increase 5.3 per cent compared to June last year and a 15.1 per cent increase compared to the previous ten-year average for June.  

The average time to sell a home in June was 27 days, compared to 24 days in the previous month. In June 2024, it took 18 days for a home to sell, and the five-year average was 15 days. 

View our HPI tool here to learn more: https://www.cornerstone.inc/stats/ 

Economic Uncertainty Tempers Waterloo Region’s Real Estate Market Despite Growing Inventory

WATERLOO REGION, ON (June 6, 2025) —In May, a total of 675 homes were sold in the Waterloo Region via the Multiple Listing Service® (MLS®) System of the Cornerstone Association of REALTORS® (Cornerstone). This represents a 9.3 per cent decrease compared to the same period last year and a decline of 26.2 per cent compared to the average number of homes sold in the previous ten years for the same month. 

“Even with home prices on the decline, a cloud of uncertainty looms over the economy, largely fueled by tariffs and lingering concerns about job security. This environment is causing potential buyers to hesitate, keeping them from making their move and entering the market,” says Christal Moura, spokesperson for the Waterloo Region market. “It’s not that we lack buyers or inventory; rather, consumer confidence is not at the level necessary to see stronger home sales.” 

If you are considering to SELL your home or BUY a home in the next short while, 

it would be highly beneficial for you to connect with one of our Team Agents at

The Riz Team

Do you want to know what your home is worth today? Click Below for our Online No Obligation Market Evaluation:

Total residential sales in May included 427 detached homes (down 8.4 per cent from May 2024), and 132 townhouses (down 1.5 per cent). Sales also included 67 condominium units (down 20.2 per cent) and 48 semi-detached homes (down 18.6 per cent).  

In May, the average sale price for all residential properties in Waterloo Region was $789,154. This represents a 3.6 per cent decrease compared to May 2024 and a 0.8 per cent increase compared to April 2025.  

• The average price of a detached home was $909,897. This represents a 3.7 per cent decrease from May 2024 and a decrease of 1.0 per cent compared to April 2025.  

• The average sale price for a townhouse was $634,320. This represents a 3.5 per cent decrease from May 2024 and an increase of 3.1 per cent compared to April 2025.  

• The average sale price for an apartment-style condominium was $431,944. This represents a 6.7 per cent decrease from May 2024 and a decrease of 9.4 per cent compared to April 2025.  

• The average sale price for a semi was $652,627.  This represents a decrease of 6.7 per cent compared to May 2024 and a decrease of 1.4 per cent compared to April 2025. 

CORNERSTONE cautions that average sale price information can help establish long-term trends but does not indicate specific properties have increased or decreased in value. The MLS® Home Price Index (HPI) provides the best way to gauge price trends because averages are strongly distorted by changes in the mix of sales activity from one month to the next.

“Right now, we’re seeing a market that is different from the frenzied market of a few years ago, but that’s a good thing for buyers who have more breathing room to make decisions,” says Moura. “The fundamentals that make Waterloo Region attractive – our diverse economy, strong tech sector, world-class educational institutes and stable governance – continue to strengthen. Waterloo Region has proven time and again that it is a solid place to invest and put down roots.”    

There were 1,663 new listings added to the MLS® System in Waterloo Region last month, an increase 1.4 per cent compared to May last year and a 15.6 per cent increase compared to the previous ten-year average for May.  

The average time to sell a home in May was 24 days, which was the same in the previous month. In May 2024, it took 16 days for a home to sell, and the five-year average was 14 days. 

View our HPI tool here to learn more: https://www.cornerstone.inc/stats/ 

Cornerstone Association of REALTORS® cautions that average sale price information can help identify long-term trends but should not indicate that specific properties have increased or decreased in value. The average sale price is calculated based on the total dollar volume of all properties sold. Months’ Supply is the inventory of homes for sale at the end of a given month, divided by the average monthly closed sales from the last 12 months. Those requiring specific information on property values should contact a Waterloo Region REALTOR®. REALTORS® have their fingers on the pulse of the market. They know the questions to ask, the areas to probe and what to look for to get a complete picture of the property and community you’re considering. 

April’s Market Signals Shifting Dynamics in Waterloo Region Real Estate

WATERLOO REGION, ON (May 5, 2025) —In April, a total of 595 homes were sold in the Waterloo Region via the Multiple Listing Service® (MLS®) System of the Cornerstone Association of REALTORS® (Cornerstone). This represents a 14.1 per cent decrease compared to the same period last year and a decline of 26.7 per cent compared to the average number of homes sold in the previous ten years for the same month. 

“Home sales in April showed typical seasonal improvement over March, but remained notably below the ten-year average,” says Christal Moura, spokesperson for the Waterloo Region market. “What we’re seeing is a clear market rebalancing, with inventory levels up 75% above the ten-year average and nearly four months of supply across all property types. This shift is creating more opportunities for buyers who now have more time for due diligence and negotiations, while sellers are adapting to a market that demands strategic pricing and patience. Waterloo Region’s strong economic fundamentals continue to support overall market stability, even as we move away from the intense seller’s market of recent years.” 

If you are considering to SELL your home or BUY a home in the next short while, 

it would be highly beneficial for you to connect with one of our Team Agents at

The Riz Team

Do you want to know what your home is worth today? Click Below for our Online No Obligation Market Evaluation:

Total residential sales in April included 356 detached homes (down 12.5 per cent from April 2024), and 109 townhouses (down 19.9 per cent). Sales also included 71 condominium units (down 22.8 per cent) and 59 semi-detached homes (up 5.4 per cent).  

In April, the average sale price for all residential properties in Waterloo Region was $789,639. This represents a 1.7 per cent decrease compared to April 2024 and a 2.7 per cent increase compared to March 2025.  

• The average price of a detached home was $927,591.?This represents a 1.7 per cent decrease from April 2024 and an increase of 0.9 per cent compared to March 2025.

• The average sale price for a townhouse was $615,982. This represents a 7.0 per cent decrease from April 2024 and a decrease of 0.2 per cent compared to March 2025.  

• The average sale price for an apartment-style condominium was $473,079.?This is on par with April 2024 and an increase of 3.5 per cent compared to March 2025.  

• The average sale price for a semi was $659,017.  This represents a decrease of 0.7 per cent compared to April 2024 and a decrease of 0.6 per cent compared to March 2025. 

Average Sale Price – Monthly

CORNERSTONE cautions that average sale price information can help establish long-term trends but does not indicate specific properties have increased or decreased in value. The MLS® Home Price Index (HPI) provides the best way to gauge price trends because averages are strongly distorted by changes in the mix of sales activity from one month to the next.

There were 1,371 new listings added to the MLS® System in Waterloo Region last month, a decrease of 4.9 per cent compared to April last year and a 10.5 per cent increase compared to the previous ten-year average for April.  

The total number of homes available for sale in active status at the end of April was 1,936, an increase of 39.5 per cent compared to April of last year and 75.3 per cent above the previous ten-year average of 1,105 listings for April. 

The total inventory across the market increased by 52.0 percent, resulting in a 3.8-month supply of all property types by the end of April. Condominium apartments had the highest inventory, with 8.0 months’ supply, followed by townhouses with 4.9 months’ supply and detached homes with 2.89 months’ supply. The number of months of inventory represents the time it would take to sell all current inventories at the current sales rate. 

The average time to sell a home in April was 20 days, compared to 24 days in the previous month. In April 2024, it took 15 days for a home to sell, and the five-year average was 14 days. 

“For those concerned about current market conditions, it’s important to remember that Waterloo Region remains one of Ontario’s most dynamic economic hubs, supported by our diverse employment base in tech, manufacturing, education, and healthcare,” says Moura. “My advice is to work closely with a REALTOR® who understands these shifting dynamics, focus on your long-term housing needs, and remember that real estate has historically proven to be a sound long-term investment in our region.” 

View our HPI tool here to learn more: https://www.cornerstone.inc/stats/

Average Sales Price – Municipality

Average Sales Price – Township

Monthly Sales By Property Type

Monthly Supply of Homes for Sale

Monthly Supply of Homes for Sale – By Property Type

Monthly Median Sales Price – By Property Type

Monthly Average Sales Price – By Property Type

Monthly Average Days on Market

Cornerstone Association of REALTORS® cautions that average sale price information can help identify long-term trends but should not be to indicate that specific properties have increased or decreased in value. The average sale price is calculated based on the total dollar volume of all properties sold. Months Supply is the inventory of homes for sale at the end of a given month, divided by the average monthly closed sales from the last 12 months. Those requiring specific information on property values should contact a Waterloo Region REALTOR®. REALTORS® have their fingers on the pulse of the market. They know the questions to ask, the areas to probe and what to look for so that you get a complete picture of the property and community you’re considering.

Media Contact: Tania Benninger, COO, 519-576-1400

ABOUT CORNERSTONE

Cornerstone was formed on July 1, 2024, to better serve and represent REALTORS® in the markets of Mississauga, Burlington, Hamilton, Waterloo Region, Niagara North, Haldimand County, Norfolk County, and surrounding areas. With over 8,000 members, Cornerstone is Ontario’s second-largest REALTOR® association. Our mission is to lead with purpose, advocate boldly and create positive change for the success of our members. Cornerstone’s vision is to redefine the future of real estate through innovation and collaboration. 

More information at www.cornerstone.inc 

The trademarks REALTOR®, REALTORS®, and the REALTOR® logo are controlled by The Canadian Real Estate Association (CREA) and identify real estate professionals who are members of CREA.

The trademarks MLS®, Multiple Listing Service® and the associated logos are owned by The Canadian Real Estate Association (CREA) and identify the quality of services provided by real estate professionals who are members of CREA. Used under license.

Waterloo Region Home Sales Cool in March as Inventory Reaches Nine-Year High

WATERLOO REGION, ON (April 2, 2025) —In March, a total of 459 homes were sold in the Waterloo Region via the Multiple Listing Service® (MLS®) System of the Cornerstone Association of REALTORS® (Cornerstone). This represents a 23.1 per cent decrease compared to the same period last year and a decline of 45.2 per cent compared to the average number of homes sold in the previous ten years for the same month. 

“March’s housing market shows a significant shift from last year’s dynamics, with sales activity cooling while inventory levels have reached their highest point for March since 2015,” notes Christal Moura, spokesperson for the Waterloo Region market. “This changing landscape is providing buyers with more options and time to make informed decisions.” 

If you are considering to SELL your home or BUY a home in the next short while, 

it would be highly beneficial for you to connect with one of our Team Agents at

The Riz Team

Do you want to know what your home is worth today? Click Below for our Online No Obligation Market Evaluation:

Total residential sales in March included 259 detached homes (down 24.7 per cent from March 2024), and 98 townhouses (down 24.0 per cent). Sales also included 60 condominium units (down 29.4 per cent) and 40 semi-detached homes (up 8.1 per cent).  

In March, the average sale price for all residential properties in Waterloo Region was $771,915. This represents a 4.4 per cent decrease compared to March 2024 and a 0.5 per cent increase compared to February 2025.  

• The average price of a detached home was $921,985. This represents a 3.6 per cent decrease from March 2024 and an increase of 2.3 per cent compared to February 2025.  

• The average sale price for a townhouse was $622,231. This represents a 6.6 per cent decrease from March 2024 and an increase of 1.2 per cent compared to February 2025.  

• The average sale price for an apartment-style condominium was $457,925. This represents a 5.5 per cent decrease from March 2024 and an increase of 4.8 per cent compared to February 2025.  

• The average sale price for a semi was $663,145.  This represents a decrease of 2.5 per cent compared to March 2024 and a decrease of 1.1 per cent compared to February 2025. 

Average Sale Price – Monthly

CORNERSTONE cautions that average sale price information can help establish long-term trends but does not indicate specific properties have increased or decreased in value. The MLS® Home Price Index (HPI) provides the best way to gauge price trends because averages are strongly distorted by changes in the mix of sales activity from one month to the next.

“While both average prices and the HPI declined on a year-over-year basis, we’re seeing month-over-month price stability in most housing categories. The increased inventory, now at a 3.2-month supply, is creating a more balanced market environment compared to the tight conditions we’ve experienced in recent years,” said Moura. “This shift is particularly evident in the condominium segment, where we now have nearly seven months of inventory available.” 

There were 1,180 new listings added to the MLS® System in Waterloo Region last month, an increase of 15.5 per cent compared to March last year and a 2.4 per cent decrease compared to the previous ten-year average for March.  

The total number of homes available for sale in active status at the end of March was 1,700, an increase of 58.4 per cent compared to March of last year and 72.9 per cent above the previous ten-year average of 983 listings for March. 

The total inventory across the market increased by 68.4 percent, resulting in a 3.2-month supply of all property types by the end of March. Condominium apartments had the highest inventory, with 6.9 months’ supply, followed by townhouses with 4.2 months’ supply and detached homes with 2.3 months’ supply. The number of months of inventory represents the time it would take to sell all current inventories at the current sales rate. 

The average time to sell a home in March was 28 days, compared to 24 days in the previous month. In March 2024, it took 19 days for a home to sell, and the five-year average was 14 days. 

Cornerstone emphasizes the importance of consulting a local REALTOR® when considering buying or selling property in the Waterloo Region. Their expertise can provide valuable insights into the current market conditions, enabling individuals to make well-informed decisions aligned with their goals and preferences. 

Average Sales Price – Municipality

Average Sales Price – Township

Monthly Sales By Property Type

Monthly Supply of Homes for Sale

Monthly Supply of Homes for Sale – By Property Type

Monthly Median Sales Price – By Property Type

Monthly Average Sales Price – By Property Type

Monthly Average Days on Market

Cornerstone Association of REALTORS® cautions that average sale price information can help identify long-term trends but should not be to indicate that specific properties have increased or decreased in value. The average sale price is calculated based on the total dollar volume of all properties sold. Months Supply is the inventory of homes for sale at the end of a given month, divided by the average monthly closed sales from the last 12 months. Those requiring specific information on property values should contact a Waterloo Region REALTOR®. REALTORS® have their fingers on the pulse of the market. They know the questions to ask, the areas to probe and what to look for so that you get a complete picture of the property and community you’re considering.

ABOUT CORNERSTONE

Cornerstone was formed on July 1, 2024, to better serve and represent REALTORS® in the markets of Mississauga, Burlington, Hamilton, Waterloo Region, Niagara North, Haldimand County, Norfolk County, and surrounding areas. With over 8,000 members, Cornerstone is Ontario’s second-largest REALTOR® association. Our mission is to lead with purpose, advocate boldly and create positive change for the success of our members. Cornerstone’s vision is to redefine the future of real estate through innovation and collaboration. 

More information at www.cornerstone.inc 

New Listings Rise, While Home Sales Decline in Waterloo Region

WATERLOO REGION, ON (March 5, 2025) – In February, a total of 363 homes were sold in the Waterloo Region via the Multiple Listing Service® (MLS®) System of the Cornerstone Association of REALTORS® (Cornerstone). This represents a 26.1 per cent decrease compared to the same period last year and a decline of 38.8 per cent compared to the average number of homes sold in the previous ten years for the same month.

“While February’s home sales were affected by concerns over tariffs and their potential impact on employment, the market showed some encouraging signs. We saw a steady increase in new listings while prices remained stable,” notes Christal Moura, spokesperson for the Waterloo Region market. “The month’s significant snowfall created practical challenges for buyers and sellers, affecting property viewings and transactions. However, I am seeing positive indicators in the market, with consistent attendance at open houses, pre-listing appointments, steady mortgage pre-approvals, and buyers on the sidelines carefully watching for the right opportunity to make their move.”

If you are considering to SELL your home or BUY a home in the next short while, 

it would be highly beneficial for you to connect with one of our Team Agents at

The Riz Team

Do you want to know what your home is worth today? Click Below for our Online No Obligation Market Evaluation:

Total residential sales in February included 221 detached homes (down 21.9 per cent from February 2024), and 71 townhouses (down 36.0 per cent). Sales also included 47 condominium units (down 35.6 per cent) and 23 semi-detached homes (down 4.2 per cent).

In February, the average sale price for all residential properties in Waterloo Region was $767,800. This represents a 1.3 per cent increase compared to February 2024 and a 1.8 per cent increase compared to January 2025.

• The average price of a detached home was $900,003. This represents a 1.0 per cent increase from February 2024 and an increase of 2.1 per cent compared to January 2025.
• The average sale price for a townhouse was $613,924. This represents a 2.7 per cent decrease from February 2024 and a decrease of 2.6 per cent compared to January 2025.
• The average sale price for an apartment-style condominium was $437,000. This represents a 5.8 per cent decrease from February 2024 and a decrease of 7.2 per cent compared to January 2025.
• The average sale price for a semi was $670,352. This represents a decrease of 0.5 per cent compared to February 2024 and an increase of 6.6 per cent compared to January 2025.

Average Sale Price – Monthly

CORNERSTONE cautions that average sale price information can help establish long-term trends but does not indicate specific properties have increased or decreased in value. The MLS® Home Price Index (HPI) provides the best way to gauge price trends because averages are strongly distorted by changes in the mix of sales activity from one month to the next.

“As we navigate these shifting dynamics in the Waterloo Region housing market, it’s important to remember that while sales may be down, the increase in inventory reflects growing opportunities for buyers,” said Moura.

There were 858 new listings added to the MLS® System in Waterloo Region last month, an increase of 7.3 per cent compared to February last year and a 0.8 per cent increase compared to the previous ten-year average for February.

The total number of homes available for sale in active status at the end of February was 1,450, an increase of 55.7 per cent compared to February of last year and 68.7 per cent above the previous ten-year average of 860 listings for February.

The total inventory across the market increased by 52.9 percent, resulting in a 2.6-month supply of all property types by the end of February. Condominium apartments had the highest inventory, with 5.9 months’ supply, followed by townhouses with 3.6 months’ supply and detached homes with 1.8 months’ supply. The number of months of inventory represents the time it would take to sell off current inventories at the current sales rate.

The average time to sell a home in February was 24 days, compared to 34 days in the previous month. Likewise, in February 2024, it took 24 days for a home to sell, and the five-year average was 15 days.

Cornerstone emphasizes the importance of consulting a local REALTOR® when considering buying or selling property in the Waterloo Region. Their expertise can provide valuable insights into the current market conditions, enabling individuals to make well-informed decisions aligned with their goals and preferences.

View our HPI tool here to learn more: https://www.cornerstone.inc/stats/

Average Sales Price – Municipality

Average Sales Price – Township

Monthly Sales By Property Type

Monthly Supply of Homes for Sale

Monthly Supply of Homes for Sale – By Property Type

Monthly Median Sales Price – By Property Type

Monthly Average Sales Price – By Property Type

Monthly Average Days on Market

Cornerstone Association of REALTORS® cautions that average sale price information can help identify long-term trends but should not be to indicate that specific properties have increased or decreased in value. The average sale price is calculated based on the total dollar volume of all properties sold. Months Supply is the inventory of homes for sale at the end of a given month, divided by the average monthly closed sales from the last 12 months. Those requiring specific information on property values should contact a Waterloo Region REALTOR®. REALTORS® have their fingers on the pulse of the market. They know the questions to ask, the areas to probe and what to look for so that you get a complete picture of the property and community you’re considering.

ABOUT CORNERSTONE

Cornerstone was formed on July 1, 2024, to better serve and represent REALTORS® in the markets of Mississauga, Burlington, Hamilton, Waterloo Region, Niagara North, Haldimand County, Norfolk County, and surrounding areas. With over 8,000 members, Cornerstone is Ontario’s second-largest REALTOR® association. Cornerstone stands for transparency, honesty, and integrity and offers a unique value proposition, paving the way for members’ brighter future.

Established to better serve and represent REALTORS®, its vision is to establish a new, more influential, capable, and member-centric organization designed to meet the evolving needs of REALTORS® and help them thrive in the marketplace.

Cornerstone stands for transparency, honesty, and integrity. By taking a proactive stance toward the future and not being afraid to question some of the long-standing assumptions, Cornerstone offers a unique value proposition, paving the way for members’ brighter future.

We are Cornerstone. REALTORS® Together, Stronger Together.

More information at www.cornerstone.inc 

The trademarks REALTOR®, REALTORS®, and the REALTOR® logo are controlled by The Canadian Real Estate Association (CREA) and identify real estate professionals who are members of CREA. The trademarks MLS®, Multiple Listing Service® and the associated logos are owned by The Canadian Real Estate Association (CREA) and identify the quality of services provided by real estate professionals who are members of CREA. Used under license.

The introduction of new tariffs between the USA and Canada could have several implications for the Canadian housing market, particularly in Ontario, which is one of the most populous and economically significant provinces in Canada. Here are some thoughts on how these tariffs, along with other economic factors like interest rates and stock market performance, might impact the housing market:

1. Impact of Tariffs on the Housing Market

• Construction Costs: Tariffs on imported construction materials (e.g., steel, aluminum, lumber) could increase the cost of building new homes. This would likely be passed on to consumers in the form of higher home prices, particularly in markets like Ontario where demand for housing remains strong.
• Consumer Confidence: If tariffs lead to broader economic uncertainty or a slowdown in trade-dependent industries, consumer confidence could weaken. This might reduce the willingness of potential buyers to enter the housing market, particularly for higher-priced homes.
• Regional Effects: Ontario, being a major manufacturing hub, could feel the impact of tariffs more acutely than other provinces. If businesses face higher costs or reduced access to U.S. markets, job losses or reduced wage growth could dampen housing demand in certain areas.

2. Proposed Interest Rates

• Bank of Canada (BoC) Response: The BoC typically considers both domestic and global economic conditions when setting interest rates. If tariffs lead to slower economic growth or inflationary pressures (due to higher import costs), the BoC may adjust its monetary policy accordingly.
  • Scenario 1: If tariffs cause inflation to rise, the BoC might increase interest rates to curb inflationary pressures. Higher interest rates would make mortgages more expensive, potentially cooling the housing market.
  • Scenario 2: If tariffs lead to economic slowdown or uncertainty, the BoC might hold off on raising rates or even cut them to stimulate the economy. This could support housing demand by keeping borrowing costs low.
• Current Trends: As of late 2023, the BoC has been cautious about raising rates too quickly as we went up with 12 interest rate hikes and we have a downward trend now into 2025 with the last 5 interest rate reductions, given concerns about household debt levels and housing affordability. Tariffs could add another layer of complexity to their decision-making process.

3. Stock Market Downturn and S&P 500 Decline

• Wealth Effect: A decline in the stock market, particularly in the S&P 500, could reduce the wealth of Canadian investors who hold U.S. equities. This might lead to decreased consumer confidence and spending, including in the housing market.
• Investor Behavior: A downturn in the stock market could make real estate a more attractive investment option for some investors, potentially increasing demand for housing. However, this effect might be offset by broader economic uncertainty.
• Mortgage Rates: While the stock market and housing market are not directly linked, a significant decline in the S&P 500 could signal broader economic concerns. This might lead to lower bond yields, which could, in turn, result in lower fixed mortgage rates. However, variable rates would still be influenced by the BoC’s policy decisions.

4. Overall Housing Market Outlook in Canada

• Short-Term: In the short term, the combination of tariffs, potential interest rate changes, and stock market volatility could create uncertainty in the housing market. This might lead to slower price growth or even price declines in some regions, particularly if buyer confidence wanes.
• Long-Term: Over the longer term, the impact of tariffs on the housing market will depend on how they affect the broader economy. If tariffs lead to sustained economic weakness, the housing market could face headwinds. However, if the economy adjusts and growth resumes, the housing market could stabilize or even rebound.
• Regional Variations: Ontario, particularly the Greater Toronto Area (GTA), may experience different effects compared to other regions. The GTA’s housing market is influenced by factors like immigration, foreign investment, and local economic conditions, which could mitigate or amplify the impact of tariffs and other economic factors.

Conclusion

The new USA/Canada tariffs, combined with potential changes in interest rates and stock market performance, create a complex environment for the Canadian housing market. In Ontario, the impact could be significant, particularly if tariffs lead to higher construction costs or economic uncertainty. However, the housing market’s resilience will depend on a range of factors, including the BoC’s monetary policy, consumer confidence, and broader economic conditions. While there may be short-term challenges, the long-term outlook will depend on how these factors evolve and interact over time.

Want to sit down on a one-on-one and talk about the market feel free to connect with us.  Fill out the form here: https://www.therizteam.com/contact

Waterloo Region Housing Market Starts 2025 with Higher Inventory, Softer Sales

WATERLOO REGION, ON (February 5, 2025) —In January, a total of 329 homes were sold in the Waterloo Region via the Multiple Listing Service® (MLS®) System of the Cornerstone Association of REALTORS® (Cornerstone). This represents a 12.0 per cent decrease compared to the same period last year and a decline of 18.6 per cent compared to the average number of homes sold in the previous ten years for the same month.

“The Waterloo Region’s housing market shows promising dynamics as we begin 2025. With nearly 50 percent more active listings compared to last January and inventory levels well above the ten-year average, we’re seeing more choice for buyers in the market,” said Christal Moura, spokesperson for the Waterloo Region market. While sales have softened compared to last year, the increased inventory levels are creating more balanced conditions between buyers and sellers.

If you are considering to SELL your home or BUY a home in the next short while, 

it would be highly beneficial for you to connect with one of our Team Agents at

The Riz Team

Do you want to know what your home is worth today? Click Below for our Online No Obligation Market Evaluation:

Total residential sales in January included 188 detached homes (down 10.5 per cent from January 2024), and 81 townhouses (down 8.0 per cent). Sales also included 39 condominium units (down 30.4 per cent) and 21 semi-detached homes (up 5.0 per cent).

In January, the average sale price for all residential properties in Waterloo Region was $755,859. This represents a 1.0 per cent decrease compared to January 2024 and a 0.6 per cent decrease compared to December 2025.

• The average price of a detached home was $882,941. This represents a 3.1 per cent decrease from January 2024 and a decrease of 1.2 per cent compared to December 2025.
• The average sale price for a townhouse was $630,116. This represents a 1.1 per cent decrease from January 2024 and an increase of 0.1 per cent compared to December 2025.
• The average sale price for an apartment-style condominium was $469,623. This represents a 4.6 per cent increase from January 2024 and a decrease of 1.2 per cent compared to December 2025.
• The average sale price for a semi was $634,762. This represents a decrease of 1.9 per cent compared to January 2024 and a decrease of 1.6 per cent compared to December 2025.

Average Sale Price – Monthly

CORNERSTONE cautions that average sale price information can help establish long–term trends but does not indicate specific properties have increased or decreased in value. The MLS® Home Price Index (HPI) provides the best way to gauge price trends because averages are strongly distorted by changes in the mix of sales activity from one month to the next.  

“In an expected move, the Bank of Canada lowered its policy rate by 25 basis points to 3 per cent on January 29, 2025, helping to bring down the cost of borrowing. This reduction was welcome news for potential homebuyers,” says Moura. “However, with a potential trade war with the U.S. still looming, it’s difficult to predict what will happen when the Bank makes its next interest rate announcement on March 12.”

While the current economic uncertainty might make some house hunters hesitant, Moura highlights the new mortgage reforms that took effect in December. These changes make it easier to qualify for a mortgage with a down payment of less than 20 percent. Additionally, the insured mortgage cap increased from $1 million to $1.5 million, and all first-time buyers and those purchasing new builds will be eligible for 30-year amortizations, which will help reduce monthly payments.

There were 901 new listings added to the MLS® System in Waterloo Region last month, an increase of 25.0 per cent compared to January last year and a 27.6 per cent increase compared to the previous ten-year average for January.

The total number of homes available for sale in active status at the end of January was 1,296 an increase of 49.5 per cent compared to January of last year and 71.5 per cent above the previous ten-year average of 992 listings for January.

The total inventory across the market increased by 43.8 percent, resulting in a 2.3-month supply of all property types by the end of January. Condominium apartments had the highest inventory, with 5.1 months’ supply, followed by townhouses with 3.5 months’ supply and detached homes with 1.5 months’ supply. The number of months of inventory represents the time it would take to sell off current inventories at the current sales rate.

The average time to sell a home in January was 33 days, compared to 37 days in the previous month. In January 2024, it took 32 days for a home to sell, and the five-year average was 21 days.

Cornerstone emphasizes the importance of consulting a local REALTOR® when considering buying or selling property in the Waterloo Region. Their expertise can provide valuable insights into the current market conditions, enabling individuals to make well-informed decisions aligned with their goals and preferences.

View our HPI tool here to learn more: https://www.cornerstone.inc/stats/

Click on any of the graphs below for an interactive view.

Average Sales Price – Municipality

Average Sales Price – Township

Monthly Sales By Property Type

Monthly Supply of Homes for Sale

Monthly Supply of Homes for Sale – By Property Type

Monthly Median Sales Price – By Property Type

Monthly Average Sales Price – By Property Type

Monthly Average Days on Market

Cornerstone Association of REALTORS® cautions that average sale price information can help identify long-term trends but should not be to indicate that specific properties have increased or decreased in value. The average sale price is calculated based on the total dollar volume of all properties sold. Months Supply is the inventory of homes for sale at the end of a given month, divided by the average monthly closed sales from the last 12 months. Those requiring specific information on property values should contact a Waterloo Region REALTOR®. REALTORS® have their fingers on the pulse of the market. They know the questions to ask, the areas to probe and what to look for so that you get a complete picture of the property and community you’re considering.

ABOUT CORNERSTONE

Cornerstone Association of REALTORS® (Cornerstone) is a brand-new, novel association formed on July 1, 2024. Representing REALTORS® serving in the markets of Mississauga, Burlington, Hamilton, Waterloo Region, Niagara North, Haldimand County, Norfolk County and surrounding areas, it will become Ontario’s second-largest real estate board comprised of nearly 9,000 REALTORS®.

Established to better serve and represent REALTORS®, its vision is to establish a new, more influential, capable, and member-centric organization designed to meet the evolving needs of REALTORS® and help them thrive in the marketplace.

Cornerstone stands for transparency, honesty, and integrity. By taking a proactive stance toward the future and not being afraid to question some of the long-standing assumptions, Cornerstone offers a unique value proposition, paving the way for members’ brighter future.

We are Cornerstone. REALTORS® Together, Stronger Together.

More information at www.cornerstone.inc