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 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 

This decrease will assist buyers by offering a better affordability plan on their monthly payments, while also helping sellers within a more active marketplace as buyers start to re-enter. Be sure to connect with anyone from The Riz Team and let’s put a plan in place for your next move….

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

For the second time in a row, Canada’s central bank has cut its overnight lending rate.

In its pre-scheduled July 2024 announcement, the Bank of Canada dropped the target for the overnight lending rate by 25 basis points to 4.50%.

While inflation remains above the Bank’s 2% target, it is expected that inflation will continue to ease as the global economy expands into 2026, bolstering the Bank’s decision to continue lowering rates.

In his opening remarks to reporters at a press conference following the announcement, Tiff Macklem, Governor of the Bank of Canada, cited that the risk that inflation continues to grow must be balanced against the risk that the economy and inflation could weaken.

“Looking ahead, we expect inflation to moderate further, though progress over the next year will likely be uneven. This forecast reflects the opposing forces affecting inflation. The overall weakness in the economy is pulling inflation down. At the same time, price pressures in shelter and some other services are holding inflation up,” said Macklem. “We are increasingly confident that the ingredients to bring inflation back to target are in place. But the push-pull of these opposing forces means the decline in inflation will likely be gradual, and there could be setbacks along the way.”

According to a recent Royal LePage survey, conducted by Leger,¹ 51% of Canadians who put their home buying plans on hold the last two years said they would return to the market when the Bank of Canada reduced its key lending rate. Eighteen percent said they would wait for a cut of 50 to 100 basis points, and 23% said they’d need to see a cut of more than 100 basis points before considering resuming their search.

“Our research shows that many buyer hopefuls have been waiting for a concrete signal from the Bank of Canada that the economy is moving in the right direction. A second cut to the overnight lending rate indicates just that, and with mortgage qualification thresholds continuing to come down, sidelined buyers may have the confidence they need to make their return to the housing market,” said Karen Yolevski, COO of Royal LePage Real Estate Services Ltd.

“We expect this will prompt a slight boost in activity in the short-term, followed by more robust buyer demand in the fall. In the meantime, some much-needed inventory has been building in major markets over the last few months, giving buyers more options to choose from. In addition to lower rates, this may also encourage more buyers to re-enter the market in the near future.”

The Bank of Canada will make its next announcement on Wednesday, September 4th.

Read the full July 24th report here.

Article excerpts brought to you by

Michelle McNally

Communications manager, Royal LePage

Waterloo Region Housing Market Sees Cooling Trend: Increased Inventory and Lower Prices Provide Opportunities for Buyers

“The Waterloo Region housing market is cooling, with a year-over-year decrease in home sales in June, while the number of homes for sale is rising, offering more inventory to buyers,” says Christal Moura, Cornerstone spokesperson for the Waterloo Region market area.”

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, 2024) —In June, a total of 674 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 13.7 per cent compared to the same period last year and a decline of 24.8 per cent compared to the average number of homes sold in the previous ten years for the same month.

“The Waterloo Region housing market is cooling, with a year-over-year decrease in home sales in June, while the number of homes for sale is rising, offering more inventory to buyers,” says Christal Moura, Cornerstone spokesperson for the Waterloo Region market area.”

Total residential sales in June included 424 detached (down 9.6 per cent from June 2023), and 136 townhouses (down 8.7 per cent). Sales also included 66 condominium units (down 44.5 per cent) and 47 semi-detached homes (up 14.6 per cent).

In June, the average sale price for all residential properties in Waterloo Region was $790,945. This represents a 5.8 per cent decrease compared to June 2023 and a 3.3 per cent decrease compared to May 2024.

• The average price of a detached home was $900,307. This represents a 10.3 per cent decrease from June 2023 and a decrease of 4.6 per cent compared to May 2024.
• The average sale price for a townhouse was $663,642. This represents a 0.6 per cent decrease from June 2023 and an increase of 2.0 per cent compared to May 2024.
• The average sale price for an apartment-style condominium was $462,145. This represents a decrease of 1.8 per cent from June 2023 and an increase of 0.5 per cent compared to May 2024.
• The average sale price for a semi was $649,353. This represents a decrease of 6.7 per cent compared to June 2023 and a decrease of 7.2 per cent compared to May 2024.

“The average selling price for residential properties has decreased by 5.8 per cent since June 2023, with detached homes showing the most significant drop at 10.3 percent. This indicates a broader softness in the market,” says Moura. “The silver lining is this presents a more favourable pricing environment for buyers, with more choices, greater flexibility, and the potential to negotiate better deals.”

There were 1,431 new listings added to the MLS® System in Waterloo Region last month, an increase of 7.6 per cent compared to June last year and a 10.6 per cent increase compared to the previous ten-year average for June.

The total number of homes available for sale in active status at the end of June was 1,790, an increase of 75.5 per cent compared to June of last year and 31.9 per cent above the previous ten-year average of 1,357 listings for June.

Market-wide inventory levels were up 73.7 per cent, with 3.3 months’ supply for all property types at the end of June. The property type that gained the most inventory was the condo apartment segment, which increased by 103.1 percent. That amounts to 6.5 months’ supply for condo apartments, 2.8 months for detached homes, and 3.2 months for townhouses.  The number of months of inventory represents the amount of time it would take to sell off current inventories at the current sales rate.

The average number of days to sell in June was 18, compared to 15 days in June 2023. The previous 5-year average is 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.

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 Home Sales Sluggish in March, Prices Steady

Despite the challenging market conditions, the first quarter of 2024 saw an increase in home sales, marking an 8.0 per cent rise compared to the previous year. However, these figures still fall short of the first-quarter sales of the past decade.  

“While home sales in Waterloo Region hit a record low for March in over two decades, we’re also witnessing a positive trend,” says Christal Moura, president of WRAR.  Over the past three months, prices and activity have started to pick up, and I expect this momentum will continue into the spring.”  

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 (April 4, 2024) —In March, a total of 596 homes were sold via the Multiple Listing Service® (MLS®) System of the Waterloo Region Association of REALTORS® (WRAR). This represents a decrease of 3.2% compared to the same period last year and a decline of 33.4% compared to the average number of homes sold in the previous 5 years for the same month. 

Despite the challenging market conditions, the first quarter of 2024 saw an increase in home sales, marking an 8.0 per cent rise compared to the previous year. However, these figures still fall short of the first-quarter sales of the past decade. 

“While home sales in Waterloo Region hit a record low for March in over two decades, we’re also witnessing a positive trend,” says Christal Moura, president of WRAR.  Over the past three months, prices and activity have started to pick up, and I expect this momentum will continue into the spring.”    

Total residential sales in March included 344 detached (down 3.9 per cent from March 2023), and 127 townhouses (down 0.8 per cent). Sales also included 86 condominium units (down 1.1 per cent) and 37 semi-detached homes (down 11.9 per cent).  

In March, the average sale price for all residential properties in Waterloo Region was $806,279. This represents a 3.6 per cent increase compared to March 2023 and a 6.6 per cent increase compared to February 2024.  

• The average price of a detached home was $954,342. This represents a 4.9 per cent increase from March 2023 and an increase of 7.3 per cent compared to February 2024.  
• The average sale price for a townhouse was $667,810. This represents a 4.4 per cent increase from March 2023 and an increase of 6.0 per cent compared to February 2024.  
• The average sale price for an apartment-style condominium was $483,085. This represents an increase of 0.3 per cent from March 2023 and an increase of 5.3 per cent compared to February 2024.  
• The average sale price for a semi was $680,039. This represents a decrease of 2.9 per cent compared to March 2023 and an increase of 1.0 per cent compared to February 2024. 

“Home prices have been gradually increasing since December, which is a typical trend,” explains Moura. “The rate and extent of further increases will depend on the willingness and patience of potential home buyers who have been waiting for lower interest rates before making their purchase. With the Bank of Canada not anticipated to make any rate changes before its June meeting, some potential home buyers may feel stuck in limbo.” 

The president of WRAR recommends that anyone interested in buying or selling a property in Waterloo Region seek advice from a local REALTOR® regarding the current market conditions. This will enable them to make an informed decision that aligns with their goals and priorities.  

There were 1,023 new listings added to the MLS® System in Waterloo Region last month, an increase of 18.7 per cent compared to March last year and a 15.9 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 1,081 an increase of 54.0 per cent compared to March of last year and 1.1 per cent below the previous ten-year average of 1,093 listings for March. 

At the end of March, there were 1.9 months of inventory, a 58.3 percent increase compared to last year and 18.8 percent above the previous 10-year average. The number of months of inventory represents how long it would take to sell off current inventories at the current sales rate.   

The average number of days to sell in March was 19, the same number as March 2023. The previous 5-year average is 18 days.   

These statistics provide a snapshot of the real estate market in the Waterloo Region in March, showing both positive and challenging aspects for buyers and sellers. WRAR encourages buyers to reach out to local Realtors for valuable insights about the current state of the local market and to receive tailored advice based on their specific needs. 

View our HPI tool here to learn more: https://wrar.ca/hpi/ 

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

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.

Annual Home Sales Down Significantly in Waterloo Region in 2023

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.

Waterloo Region Home Sales Cool in November

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