Home Sales Cool in March with inventory levels reaching 9 year highs

I hope you are having a great April so far.  Looks like the spring is hopefully here after that crazy weather we had on wednesday and that means an increase in activity in the Kitchener Waterloo Real Estate Market.  Let’s take a look at the stats from March

In March, a total of 459 homes were sold in the Waterloo Region. This represents a 23.1 percent decrease compared to the same period last year and a decline of 45.2 percent 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. This changing landscape is providing buyers with more options and time to make informed decisions.

Total residential sales in March included 259 detached homes (down 24.7 percent 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 percent 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 percent 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 percent 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

MLS® Home Price Index Benchmark Price (HPI)
	Kitchener-Waterloo			Cambridge
Benchmark Type:	March 2025	Monthly % Change	Yr./Yr. % Change	March 2025	Monthly % Change	Yr./Yr. % Change
Composite	$728,800	-0.2	-2.7	$740,900	-1.4	-1.9
Single Family	$843,300	0.3	-2.5	$779,500	-1.6	-1.3
Townhouse	$598,300	-0.3	-3.4	$630,600	0.2	-3.2
Apartment	$434,200	-1.4	-6.7	$482,800	-0.3	-3.5

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 over the past many years. 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 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. 

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

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 weekend!

Kevin