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 

Home Sales in the Waterloo Region Increased in October

In October, a total of 604 homes were sold in the Waterloo Region via the Multiple Listing Service® (MLS®) System of the Cornerstone Association of REALTORS® (Cornerstone). This represents a 7.1 per cent increase compared to the same period last year and a decline of 14.2 per cent compared to the average number of homes sold in the previous ten years for the same month.

“For the first time since May, we witnessed an encouraging rise in home sales throughout Waterloo Region last month,” stated Christal Moura, spokesperson for the Waterloo Region market area. “This positive trend reflects a shift toward more balanced conditions within our housing market and a renewed confidence among buyers.”

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 October included 383 detached homes (up 15.4 per cent from October 2023), and 104 townhouses (down 20.0 per cent). Sales also included 66 condominium units (up 1.5 per cent) and 49 semi-detached homes (up 53.1 per cent).

In October, the average sale price for all residential properties in Waterloo Region was $779,008. This represents a 1.4 per cent increase compared to October 2023 and a 1.4 per cent decrease compared to September 2024.

• The average price of a detached home was $885,587. This represents a 0.6 per cent decrease from October 2023 and a decrease of 2.9 per cent compared to September 2024.
• The average sale price for a townhouse was $643,382. This represents a 0.2 per cent decrease from October 2023 and an increase of 7.8 per cent compared to September 2024.
• The average sale price for an apartment-style condominium was $484,429. This represents a 1.8 per cent increase from October 2023 and a decrease of 0.2 per cent compared to September 2024.
• The average sale price for a semi was $650,098. This represents a decrease of 1.2 per cent compared to October 2023 and a decrease of 0.7 per cent compared to September 2024.

Waterloo Region Sees Decrease in Home Sales for September

In September, a total of 521 homes were sold in the Waterloo Region via the Multiple Listing Service® (MLS®) System of the Cornerstone Association of REALTORS® (Cornerstone). This represents a decrease of 2.1 per cent compared to the same period last year and a decline of 23.5 per cent compared to the average number of homes sold in the previous ten years for the same month.

“In September, there was an overall slowdown in home sales, but we continued to see strong demand for detached homes, resulting in an increase in sales for that specific type of property,” said Christal Moura, spokesperson for the Waterloo Region market area. “Meanwhile, buyers have a bit more selection than a year ago as inventory is up, and homes take a little longer to sell. This can mean a less stressful homebuying experience, but for sellers, the current market may require more patience or even adjustment in price expectation.”

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 September included 336 detached homes (up 9.4 per cent from September 2023), and 95 townhouses (down 22.1 per cent). Sales also included 57 condominium units (down 16.2 per cent) and 32 semi-detached homes (down 3.0 per cent).

In September, the average sale price for all residential properties in Waterloo Region was $788,944. This represents a 2.9 per cent increase compared to September 2023 and a 2.3 per cent increase compared to August 2024.

• The average price of a detached home was $910,286. This represents a 2.3 per cent increase from September 2023 and an increase of 2.2 per cent compared to August 2024.
• The average sale price for a townhouse was $595,435. This represents a 6.9 per cent decrease from September 2023 and a decrease of 2.7 per cent compared to August 2024.
• The average sale price for an apartment-style condominium was $483,331. This represents a decrease of 3.4 per cent from September 2023 and an increase of 4.9 per cent compared to August 2024.
• The average sale price for a semi was $654,613. This represents a decrease of 2.9 per cent compared to September 2023 and an increase of 0.1 per cent compared to August 2024.

In September, Cornerstone welcomed policy changes from the federal government. These changes include extending mortgage terms to 30 years for first-time homebuyers and all buyers of new builds and raising the CMHC insurance cap from $1 million to $1.5 million. These changes will come into effect later this year. Combined with anticipated further interest rate cuts, these adjustments could enable more buyers to purchase their first home.

There were 1,313 new listings added to the MLS® System in Waterloo Region last month, a decrease of 6.5 per cent compared to September last year and a 20.0 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 1,751 an increase of 21.3 per cent compared to September of last year and 42.2 per cent above the previous ten-year average of 1,232 listings for September.

The total inventory across the market increased by 23.1 percent, resulting in a 3.2-month supply of all property types by the end of September. Condominium apartments had the highest inventory, with 5.5 months’ supply, followed by townhouses with 3.6 months’ supply and detached homes with 2.7 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 it took to sell a home in September was 28 days, which is three days longer than the previous month. In September 2023, it took 19 days for a home to sell, and the five-year average is 18 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 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 

Waterloo Region Sees Strong Demand for Detached Homes Amid Cooler Residential Sales in August

In August, a total of 539 homes were sold in the Waterloo Region via the Multiple Listing Service® (MLS®) System of the Cornerstone Association of REALTORS® (Cornerstone). This represents a decrease of 5.3 per cent compared to the same period last year and a decline of 24.1 per cent compared to the average number of homes sold in the previous ten years for the same month.

“Despite a cooling market, detached homes continue to see strong demand, reflected in a 6.0 percent increase in sales year-over-year,” says Christal Moura, spokesperson for the Waterloo Region market area. “With home prices showing stability in recent months and interest rates decreasing, we saw some home buyers finally come out from the wings to take advantage of the summer slowdown to seek out specific property types, like single-family homes.”

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, 2024) —In August, a total of 539 homes were sold in the Waterloo Region via the Multiple Listing Service® (MLS®) System of the Cornerstone Association of REALTORS® (Cornerstone). This represents a decrease of 5.3 per cent compared to the same period last year and a decline of 24.1 per cent compared to the average number of homes sold in the previous ten years for the same month.

“Despite a cooling market, detached homes continue to see strong demand, reflected in a 6.0 percent increase in sales year-over-year,” says Christal Moura, spokesperson for the Waterloo Region market area. “With home prices showing stability in recent months and interest rates decreasing, we saw some home buyers finally come out from the wings to take advantage of the summer slowdown to seek out specific property types, like single-family homes.”

Total residential sales in August included 335 detached homes (up 6.0 per cent from August 2023), and 103 townhouses (down 22.6 per cent). Sales also included 60 condominium units (down 18.9 per cent) and 40 semi-detached homes (down 11.1 per cent).

In August, the average sale price for all residential properties in Waterloo Region was $769,203. This represents a 1.1 per cent increase compared to August 2023 and a 1.7 per cent decrease compared to July 2024.

• The average price of a detached home was $889,085. This represents a 0.8 per cent increase from August 2023 and a decrease of 2.7 per cent compared to July 2024.
• The average sale price for a townhouse was $611,164. This represents a 7.5 per cent decrease from August 2023 and a decrease of 1.5 per cent compared to July 2024.
• The average sale price for an apartment-style condominium was $457,075. This represents a decrease of 5.8 per cent from August 2023 and a decrease of 7.7 per cent compared to July 2024.
• The average sale price for a semi was $654,070. This represents a decrease of 2.8 per cent compared to August 2023 and a decrease of 1.9 per cent compared to July 2024.

Waterloo Region Housing Market Sees Modest Sales Uptick in July Amid Lower Interest Rates and Increased Inventory

“In July, we observed a slight increase in home sales year-over-year following a reduction in interest rates, which seems to have provided a modest boost to market activity,” says Christal Moura, spokesperson for the Waterloo Region market area. “While this uptick is encouraging, it is evident that many potential buyers are adopting a wait-and-see approach, anticipating further decreases in interest rates and better buying conditions in the near future.”

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 6, 2024) —In July, a total of 639 homes were sold in the Waterloo Region via the Multiple Listing Service® (MLS®) System of the Cornerstone Association of REALTORS® (Cornerstone). This represents an increase of 4.6 per cent compared to the same period last year and a decline of 16.6 per cent compared to the average number of homes sold in the previous ten years for the same month.

“In July, we observed a slight increase in home sales year-over-year following a reduction in interest rates, which seems to have provided a modest boost to market activity,” says Christal Moura, spokesperson for the Waterloo Region market area. “While this uptick is encouraging, it is evident that many potential buyers are adopting a wait-and-see approach, anticipating further decreases in interest rates and better buying conditions in the near future.”

Total residential sales in July included 382 detached homes (up 4.1 per cent from July 2023), and 126 townhouses (up 5.0 per cent). Sales also included 82 condominium units (up 9.3 per cent) and 48 semi-detached homes (up 9.1 per cent).

In July, the average sale price for all residential properties in Waterloo Region was $782,716. This represents a 1.6 per cent decrease compared to July 2023 and a 0.9 per cent decrease compared to June 2024.

• The average price of a detached home was $914,469. This represents a 0.6 per cent decrease from July 2023 and an increase of 1.6 per cent compared to June 2024.
• The average sale price for a townhouse was $617,062. This represents a 7.7 per cent decrease from July 2023 and a decrease of 7.1 per cent compared to June 2024.
• The average sale price for an apartment-style condominium was $494,897. This represents a decrease of 0.6 per cent from July 2023 and an increase of 7.1 per cent compared to June 2024.
• The average sale price for a semi was $667,063. This represents a decrease of 0.6 per cent compared to July 2023 and an increase of 2.7 per cent compared to June 2024.

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 

Waterloo Region Sees Dip in Home Sales Due to Sluggish Condo Market

“May saw a dip in the number of sales across all categories, with condo apartments experiencing the largest drop,” says Christal Moura, president of WRAR. “The Condo market also had the greatest supply level, posing a challenge for sellers, especially for units with one or fewer bedrooms, where the current inventory level exceeds buyer demand.”

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 (June 5, 2024) —In May, a total of 742 homes were sold via the Multiple Listing Service® (MLS®) System of the Waterloo Region Association of REALTORS® (WRAR). This represents a decrease of 8.1 per cent compared to the same period last year and a decline of 20.0 per cent compared to the average number of homes sold in the previous ten years for the same month.

“May saw a dip in the number of sales across all categories, with condo apartments experiencing the largest drop,” says Christal Moura, president of WRAR. “The Condo market also had the greatest supply level, posing a challenge for sellers, especially for units with one or fewer bedrooms, where the current inventory level exceeds buyer demand.”

Total residential sales in May included 467 detached (down 1.3 per cent from May 2023), and 134 townhouses (down 3.6 per cent). Sales also included 82 condominium units (down 34.4 per cent) and 59 semi-detached homes (down 13.2 per cent).

In May, the average sale price for all residential properties in Waterloo Region was $818,507. This represents a 0.3 per cent decrease compared to May 2023 and a 2.3 per cent increase compared to April 2024.

• The average price of a detached home was $943,859. This represents a 1.9 per cent decrease from May 2023 and an increase of 0.4 per cent compared to April 2024.
• The average sale price for a townhouse was $653,761. This represents a 6.1 per cent decrease from May 2023 and a decrease of 0.9 per cent compared to April 2024.
• The average sale price for an apartment-style condominium was $459,260. This represents a decrease of 5.6 per cent from May 2023 and a decrease of 5.6 per cent compared to April 2024.
• The average sale price for a semi was $699,780. This represents a decrease of 3.9 per cent compared to May 2023 and an increase of 5.1 per cent compared to April 2024.

WRAR 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.

Waterloo Region’s Housing Market Shows Signs of Improvement in January

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

WRAR 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.