Cornerstone Association of REALTORS - Waterloo Region

In July, a total of 644 homes were sold in the Waterloo Region via the Multiple Listing Service® (MLS®) System of the Cornerstone Association of REALTORS® (Cornerstone). This is on par with the same period last year and a decline of 14.3 per cent compared to the average number of homes sold in the previous ten years for the same month.

“While sales volumes remained stable compared to last year, we’re seeing continued price adjustments across all property types,” says Christal Moura, spokesperson for the Waterloo Region market. “The Bank of Canada’s decision to hold rates steady in July, combined with increased inventory and price moderation, is creating more opportunities for buyers who have been waiting to enter the market, though broader economic uncertainties surrounding the Canada-US trade war continue to impact consumer confidence.”

Total residential sales in July included 383 detached homes (up 0.5 per cent from July 2024), and 123 townhouses (down 5.4 per cent). Sales also included 80 condominium units (down 3.6 per cent) and 55 semi-detached homes (up 14.6 per cent).

In July, the average sale price for all residential properties in Waterloo Region was $735,082. This represents a 6.0 per cent decrease compared to July 2024 and a 5.7 per cent decrease compared to June 2025.

• The average sale price of a detached home was $857,579. This represents a 6.2 per cent decrease from July 2024 and a decrease of 4.5 per cent compared to June 2025.

• The average sale price for a townhouse was $603,245. This represents a 2.8 percent decrease from July 2024 and a 3.5 percent decrease compared to June 2025.

• The average sale price for an apartment-style condominium was $415,559. This represents a 16.7 per cent decrease from July 2024 and a decrease of 4.4 per cent compared to June 2025.

• The average sale price for a semi was $644,930. This represents a 3.3 per cent decrease from July 2024 and a 0.6 per cent decrease compared to June 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 1,356 new listings added to the MLS® System in Waterloo Region last month, a decrease of 3.1 per cent compared to July last year and a 21.2 per cent increase compared to the previous ten-year average for July.

The average time to sell a home in July was 32 days, compared to 27 days in the previous month. In July 2024, it took 22 days for a home to sell, and the five-year average was 17 days.

“The longer average days on the market reflect that we’re in a more balanced market environment,” Moura says. “This means that buyers can take their time to make informed decisions, while sellers are adjusting their expectations to fit the current market conditions.”

View our HPI tool here to learn more: https://www.cornerstone.inc/stats/