The Real Estate Market is Shifting Here in Waterloo Region.

I hope you are having a great May so far.  Looks like spring is hopefully here to stay, after this crazy winter and early spring weather we have been having. The numbers are out for Waterloo Region’s Real Estate market and we are certainly in a different environment than we have been used to for the past many years.  Let’s break down the numbers and have a look….

In April, a total of 595 homes were sold in the Waterloo Region. This represents a 14.1 percent decrease compared to the same period last year and a decline of 26.7 percent compared to the average number of homes sold in the previous ten years for the same month. 

Home sales in April showed typical seasonal improvement over March, but have remained notably below the ten-year average. What we’re seeing is a clear market rebalancing, with inventory levels up 75% above the ten-year average and nearly four months of supply across all property types. This shift is creating more opportunities for buyers who now have more time for due diligence and negotiations, while sellers are adapting to a market that demands strategic pricing and patience. 

Total residential sales in April included 356 detached homes (down 12.5 per cent from April 2024), and 109 townhouses (down 19.9 per cent). Sales also included 71 condominium units (down 22.8 per cent) and 59 semi-detached homes (up 5.4 per cent).  

In April, the average sale price for all residential properties in Waterloo Region was $789,639. This represents a 1.7 percent decrease compared to April 2024 and a 2.7 per cent increase compared to March 2025.  

• The average price of a detached home was $927,591.?This represents a 1.7 percent decrease from April 2024 and an increase of 0.9 per cent compared to March 2025.
• The average sale price for a townhouse was $615,982. This represents a 7.0 percent decrease from April 2024 and a decrease of 0.2 per cent compared to March 2025.  
• The average sale price for an apartment-style condominium was $473,079.?This is on par with April 2024 and an increase of 3.5 per cent compared to March 2025.  
• The average sale price for a semi was $659,017.  This represents a decrease of 0.7 per cent compared to April 2024 and a decrease of 0.6 per cent compared to March 2025. 

Average Sale Price – Monthly

MLS® Home Price Index Benchmark Price (HPI)
	Kitchener-Waterloo			Cambridge
Benchmark Type:	April 2025	Monthly % Change	Yr./Yr. % Change	April 2025	Monthly % Change	Yr./Yr. % Change
Composite	$703,500	-3.5	-6.1	$730,400	-1.4	-3.4
Single Family	$821,100	-2.6	-5.2	$773,600	-0.8	-2.1
Townhouse	$582,300	-2.7	-7.1	$626,800	-0.6	-4.7
Apartment	$441,200	1.6	-3.2	$471,800	-2.3	-6.4

There were 1,371 new listings added  last month, a decrease of 4.9 percent compared to April last year and a 10.5 percent increase compared to the previous ten-year average for April.  

The total number of homes available for sale in active status at the end of April was 1,936, an increase of 39.5 percent compared to April of last year and 75.3 percent above the previous ten-year average of 1,105 listings for April. 

The total inventory across the market increased by 52.0 percent, resulting in a 3.8-month supply of all property types by the end of April. Condominium apartments had the highest inventory, with 8.0 months’ supply, followed by townhouses with 4.9 months’ supply and detached homes with 2.89 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 April was 20 days, compared to 24 days in the previous month. In April 2024, it took 15 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/summer 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 Mother’s Day to all the mom’s out there. 

Kevin