“Waterloo Region is navigating one of its slowest Mays for sales in the past 15 years, yet the steady month-over-month progress since the start of the year is encouraging. A 9.8 per cent increase in sales from April, combined with a modest uptick in new listings, speaks to a market that is gradually finding its footing,” says Bill Duce, CEO of Cornerstone.

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Waterloo Region May Statistics

• The supply of inventory across the market decreased 5.0% on a year-over-year basis, resulting in a 3.6-month supply of all property types by the end of April, which was similar to levels reported in April 2025.

Waterloo Region Housing Statistics

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“The real estate market has gained positive momentum this spring, with steady month-over-month growth in sales and new listing activity since the start of the year, although at a more moderate pace than the same period in 2025,” said Bill Duce, CEO of Cornerstone. “It is encouraging that we are still early in the spring market. These April numbers are just the beginning, and May and June are typically among the strongest months of the year. The Bank of Canada’s decision last week to hold the policy rate was a welcome signal of stability, giving both buyers and sellers greater confidence to move forward with their real estate goals. For those who have been waiting on the sidelines, now is a great time to re-engage with the market.”

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Waterloo Region April Statistics

Waterloo Region Housing Market Start in 2026

“Despite the monthly decrease in sales volume, Waterloo Region is showing encouraging signs with modest monthly price growth in both Kitchener-Waterloo and Cambridge. The doubling of new listings from December to January demonstrates renewed seller confidence, especially considering January’s challenging weather conditions that included significant snowstorms and periods of extreme cold that prompted weather warnings across the region.” – Bill Duce, Cornerstone CEO

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Waterloo Region Housing Market Ends 2025 with Rising Inventory and Declining Sales…

“In Waterloo Region, we observed an increase in new listings coming onto the market in 2025, accompanied by softening sales and longer selling times. This trend occurred during a year when affordability remained a challenge for many aspiring homebuyers, as global and economic uncertainty contributed to a weaker housing market. With the downward pressure on housing prices, and more options for buyers, it proved to be a good year for those first-time buyers who were able to get into the market,” says Christal Moura, spokesperson for the Waterloo Region Market.

“As we look ahead to 2026, we anticipate a more stable market, particularly with the introduction of new government incentives. Both the provincial and federal governments have announced plans to remove the Harmonized Sales Tax (HST) from new homes up to $1 million for first-time buyers. This initiative should make homes more affordable and help boost the housing market, however, we would like to see this policy expanded to all homebuyers, to make an even greater impact,” says Moura.

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WATERLOO REGION, ON (January 7, 2026) —There were 6,177 homes sold in Waterloo Region through the Multiple Listing Service® (MLS®) System of the Cornerstone Association of REALTORS® (Cornerstone) in 2025, a decrease of 8.8 per cent compared to 2024, and a 25.3 per cent compared to the previous ten-year average for annual sales.

On a monthly basis, 306 homes were sold in December, a decrease of 9.5 per cent compared to the same period last year and a decrease of nearly 19.5 per cent compared to the average number of homes sold in the previous ten years for the same month.

“In Waterloo Region, we observed an increase in new listings coming onto the market in 2025, accompanied by softening sales and longer selling times. This trend occurred during a year when affordability remained a challenge for many aspiring homebuyers, as global and economic uncertainty contributed to a weaker housing market. With the downward pressure on housing prices, and more options for buyers, it proved to be a good year for those first-time buyers who were able to get into the market,” says Christal Moura, spokesperson for the Waterloo Region Market.

“As we look ahead to 2026, we anticipate a more stable market, particularly with the introduction of new government incentives. Both the provincial and federal governments have announced plans to remove the Harmonized Sales Tax (HST) from new homes up to $1 million for first-time buyers. This initiative should make homes more affordable and help boost the housing market, however, we would like to see this policy expanded to all homebuyers, to make an even greater impact,” says Moura.

Total residential sales in December included 192 detached homes (no change from December 2024), and 52 townhouses (down 39.1 per cent). Sales also included 35 condominium units (down 14.6 per cent) and 26 semi-detached homes (up 23.8 per cent).

For 2025, total residential sales included 3,779 detached (down 7.7 per cent), and 1,174 townhouses (down 14.4 per cent). Sales also included 727 condominium units (down 11.6 per cent) and 484 semi-detached homes (up 1.5 per cent).

In December, the average sale price for all residential properties in Waterloo Region was $716,911. This represents a 5.9 per cent decrease compared to December 2024 and a 0.5 per cent increase compared to November 2025.

• The average sale price of a detached home was $839,394. This represents a 6.0 per cent decrease from December 2024 and an increase of 1.4 per cent compared to November 2025.
• The average sale price for a townhouse was $568,249. This represents a 9.8 per cent decrease from December 2024 and a decrease of 4.4 per cent compared to November 2025.
• The average sale price for an apartment-style condominium was $366,784. This represents a 22.9 per cent decrease from December 2024 and a decrease of 13.1 per cent compared to November 2025.
• The average sale price for a semi was $601,535. This represents a decrease of 6.7 per cent compared to December 2024 and a decrease of 5.6 per cent compared to November 2025.

Year-to-date, the average sale price for all residential properties in Waterloo Region decreased 3.7 per cent to $754,199 compared to 2024.

• The year-to-date average price of a detached home was $876,896. This represents a 3.7 per cent decrease compared to 2024.
• The year-to-date average sale price for a townhouse was $611,256. This represents a 4.3 per cent decrease compared to 2024.
• The year-to-date average sale price for an apartment-style condominium was $437,084. This represents a 7.4 per cent decrease compared to 2024.
• The year-to-date average sale price for a semi was $635,412. This represents a decrease of 4.1 per cent compared to 2024.

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 375 new listings added to the MLS® System in Waterloo Region last month, an increase of 6.5 per cent compared to December last year, and an 11.3 per cent increase compared to the previous ten-year average for December.

In 2025, 13,872 new listings were added to Cornerstone’s MLS® System in the Waterloo Region, an increase of 5.2 per cent compared to 2024, and a 15.7 per cent increase compared to the previous ten-year annual average.

At the end of December, there were 1,188 homes available for sale in active status, representing a 15.9% increase from the same month last year. This number surpasses the previous ten-year average of 595 homes in December.

The total inventory across the market increased by 27.8 percent, resulting in a 2.3-month supply of all property types by the end of December. Condominium apartments had the highest inventory, with 4.9 months’ supply, followed by townhouses with 3.0 months’ supply and detached homes with 1.7 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 December was 45 days, which is 6 days longer than the previous month. In December 2024, it took 36 days for a home to sell, and the five-year average was 24 days.

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 Median Sales Price – By Property Type

Monthly Average Sales Price – By Property Type

Monthly Average Days on Market

Monthly Number of New Listings – By Property Type

Monthly Homes for Sale

Monthly Supply of Homes for Sale – By Property Type

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.

Sales down nearly 15 percent year-over-year and prices adjusting accordingly…

“We saw a continued cooling of the housing market in November with sales down nearly 15 percent year-over-year and prices adjusting accordingly,” says Christal Moura, spokesperson for the Waterloo Region market. “While seasonal slowdowns are expected at this time of year, softer demand has contributed to higher inventory levels than we’ve seen in some time. These conditions offer a real opportunity for first-time buyers. Increased inventory and longer days on the market allow buyers to explore options thoroughly and, with their REALTOR®’s expertise, negotiate from a stronger position. The combination of Waterloo region being a highly desirable place to live and the lower interest rates makes me hopeful that buyers will be coming off the sidelines in the year ahead.”

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WATERLOO REGION, ON (December 4, 2025) —In November, a total of 465 homes were sold in the Waterloo Region via the Multiple Listing Service® (MLS®) System of the Cornerstone Association of REALTORS® (Cornerstone). This represents a 14.8 per cent decrease compared to the same period last year and a decline of nearly 25 per cent compared to the average number of homes sold in the previous ten years for the same month.

“We saw a continued cooling of the housing market in November with sales down nearly 15 percent year-over-year and prices adjusting accordingly,” says Christal Moura, spokesperson for the Waterloo Region market. “While seasonal slowdowns are expected at this time of year, softer demand has contributed to higher inventory levels than we’ve seen in some time. These conditions offer a real opportunity for first-time buyers. Increased inventory and longer days on the market allow buyers to explore options thoroughly and, with their REALTOR®’s expertise, negotiate from a stronger position. The combination of Waterloo region being a highly desirable place to live and the lower interest rates makes me hopeful that buyers will be coming off the sidelines in the year ahead.”

Total residential sales in November included 274 detached homes (down 18.0 per cent from November 2024), and 91 townhouses (down 20.9 per cent). Sales also included 59 condominium units (up 11.3 per cent) and 41 semi-detached homes (down 6.8 per cent).

In November, the average sale price for all residential properties in Waterloo Region was $713,751. This represents a 5.4 per cent decrease compared to November 2024 and a 2.7 per cent decrease compared to October 2025.

• The average sale price of a detached home was $827,617. This represents a 4.3 per cent decrease from November 2024 and a decrease of 1.8 per cent compared to October 2025.
• The average sale price for a townhouse was $595,337. This represents an 3.1 per cent decrease from November 2024 and an increase of 0.5 per cent compared to October 2025.
• The average sale price for an apartment-style condominium was $422,056. This represents a 6.3 per cent decrease from November 2024 and a decrease of 2.2 per cent compared to October 2025.
• The average sale price for a semi was $635,375. This represents a decrease of 1.4 per cent compared to November 2024 and an increase of 10.8 per cent compared to October 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 764 new listings added to the MLS® System in Waterloo Region last month, a decrease of 14.4 per cent compared to November last year, however, this figure remains consistent with the previous ten-year average for November.

At the end of November, there were 1,757 homes available for sale in active status, representing a 15.6% increase from November of last year. This marks the highest number of homes for sale in November in over a decade.

The total inventory across the market increased by 25.9 percent, resulting in a 3.4-month supply of all property types by the end of November. Condominium apartments had the highest inventory, with 6.4 months’ supply, followed by townhouses with 4.1 months’ supply and detached homes with 2.8 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 November was 39 days, which is 8 days longer than the previous month. In November 2024, it took 27 days for a home to sell, and the five-year average was 19 days.

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 Median Sales Price – By Property Type

Monthly Average Sales Price – By Property Type

Monthly Average Days on Market

Monthly Number of New Listings

Monthly Homes for Sale

Monthly Supply of Homes for Sale – By Property Type

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, 

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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/ 

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.

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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.”

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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

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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

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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.