Waterloo Region Market Update
- Molly Gomes
- May 12
- 3 min read
Cambridge:
(keep scrolling for Kitchener and Waterloo's market update)
The Cambridge real estate market saw a noticeable increase in activity this spring. In April, there were 272 active listings and 229 new listings—both up from December and higher than what we've typically seen at this time of year in previous years.
Sales also rose, with 97 homes sold in April compared to 82 in March and 55 in February. Homes spent an average of just 14 days on the market. However, it’s worth noting that while properties are selling quickly, sale prices have been trending down. The median sale price in April was $771,000, compared to $813,000 in March and $795,000 in February, despite a median list price of $804,900 last month. This suggests that while demand remains strong, buyers are negotiating more on price.
What does this mean?
For homeowners thinking about selling, the market is active, with homes moving quickly and plenty of new listings entering the market. While sale prices have dipped slightly from earlier in the year, strong demand and quick turnaround times still make it a good time to list—especially if your home shows well and is priced competitively.
For buyers, increased inventory means more options and potentially less competition than in previous spring markets. Even though homes are still selling quickly, the downward trend in sale prices and the gap between list and sale prices suggest there may be some room to negotiate. Acting quickly and being prepared remains important, but buyers may find more opportunity than they did earlier in the year.
Here's what has sold in Cambridge in the last 14 days:
Kitchener:
The Kitchener real estate market gained momentum in April, with a notable increase in both listings and sales activity. New listings jumped to 341 in April, up from 255 in March and 184 in February, bringing the total number of active listings to 392. This marks a steady rise in available inventory compared to earlier in the year. Sales also picked up, with 145 homes sold in April—an increase from 100 in March. Homes continued to move quickly, averaging just 13 days on the market. The median list price in April was $835,000, while the median sale price came in at $780,000, holding steady compared to March but down from $813,750 in February.
What does this mean?
For sellers, the market remains active and homes are still selling quickly, but pricing strategically is more important than ever as sale prices have softened slightly compared to earlier in the year. With more inventory available, buyers have more choice and potentially more leverage, even in a fast-moving market. Whether you're buying or selling, being informed and prepared can make all the difference in navigating today's conditions.
Here's what freehold properties have sold in Kitchener last week:
Here's what condo properties have sold in Kitchener last week:
Waterloo:
In Waterloo, the detached home market saw a seasonal upswing in April. There were 134 new listings, up from 110 in March, bringing the total active listings to 179 (an increase from 163 the previous month). These figures are consistent with trends seen in pre-pandemic years. Sales also picked up, with 73 homes sold in April, up from 49 in March and 39 in February. Days on market remained steady at 13, indicating stable demand. The median list price was $982,500, while the median sale price rose to $950,000, up from $900,000 in March and $840,000 in February. This represents a 5.6% increase month-over-month and a 13.1% increase since February. Despite the recent gains, the April median sale price is still 1.04% below the $960,000 median seen in April of last year.
What does this mean?
The detached home market in Waterloo is showing signs of steady spring activity. More homes are being listed and sold, which is typical for this time of year. In April, there were 134 new listings and 73 homes sold—both up from previous months. The number of homes on the market is growing, giving buyers a bit more choice, but homes are still selling quickly, with the average time on market holding steady at just 13 days.
For sellers, this is a positive sign—homes are moving and prices are climbing. The median sale price in April was $950,000, which is up from both March and February. If you're thinking about selling, the spring market momentum could work in your favour.
For buyers, more listings mean more options, but competition is still strong. Prices are rising, so acting sooner rather than later could help avoid paying more down the line.
Here's what has sold in Waterloo in the last 7 days:
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