New Listings up, sales down but prices remain stable in Waterloo Region

I hope you are having a great March so far. Looks like the spring thaw is fast approaching and that means an increase in activity in the Kitchener Waterloo Real Estate Market. Let’s take a look at the stats from February….

In February, a total of 363 homes were sold. This represents a 26.1 percent decrease compared to the same period last year and a decline of 38.8 percent 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. 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.

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

In February, the average sale price for all residential properties in Waterloo Region was $767,800. This represents a 1.3 percent 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 percent 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 percent 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 percent compared to February 2024 and an increase of 6.6 percent compared to January 2025.

Average Sale Price – Monthly

MLS® Home Price Index Benchmark Price
	Kitchener-Waterloo			Cambridge
Benchmark Type:	February 2025	Monthly % Change	Yr./Yr. % Change	February 2025	Monthly % Change	Yr./Yr. % Change
Composite	$729,900	0.0	-0.9	$751,300	0.6	0.6
Single Family	$841,000	-0.8	-1.1	$792,100	0.6	1.6
Townhouse	$600,200	1.7	-1.8	$629,300	0.5	-2.1
Apartment	$440,400	2.3	-1.9	$484,500	1.1	-2.2

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. Now is a great time for buyers to get out and start looking for a new home.

There were 858 new listings added last month, an increase of 7.3 percent compared to February last year and a 0.8 percent 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 percent compared to February of last year and 68.7 percent 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.

If you have any questions at all, are thinking of making a move this spring or are wondering what your home might be worth, give me a call or text to 519-497-4646 or shoot me an email to kevinbakerrealestate@gmail.com and we can sit down for a coffee and chat about your family’s needs going forward.

Have a great rest of your week!

Kevin