Waterloo Region Real Estate Market Update – October 2025 Home Prices & Trends

Waterloo Region Market Update – September 2025

In September, 502 homes were sold across Waterloo Region through the Multiple Listing Service (MLS) System of the Cornerstone Association of REALTORS. This marks a 4.7% decrease compared to the same period last year and a 25% decline from the ten-year average for the month.

The local housing market continues to mirror broader economic trends, with sales activity remaining below typical levels. However, this moderation has fostered a more balanced environment, allowing buyers additional time to make decisions. Well-priced and well-presented properties continue to generate strong interest, even as overall urgency has eased.

Buyer confidence is gradually improving as worst-case economic scenarios appear less likely, yet many remain cautious and are taking a wait-and-see approach ahead of the next Bank of Canada interest rate announcement on Wednesday, October 29, 2025.

Sales and Prices by Property Type

• In September, the average sale price for all residential properties in Waterloo Region was $753,162, representing a 4.7% decrease compared to September 2024 and a 3.2% increase compared to August 2025.
• Detached homes continued to lead the market with 325 sales, down 4.1% year-over-year, and an average sale price of $858,872 — 5.9% lower than last year but up 1.4% from August.
• Townhomes saw 91 sales, down 5.2% compared to September 2024, with an average price of $606,871 — up 1.7% from last year and 1.8% higher than the previous month.
• Condominium units recorded 51 sales, a 13.6% decline year-over-year, with an average price of $442,086 — 8.9% lower than September 2024 but up 2.0% from August.
• Semi-detached homes posted 34 sales, up 6.3% from last year, with an average sale price of $621,026 — down 5.1% compared to September 2024 and up 0.5% month-over-month.

Inventory and Market Conditions

While prices have softened compared to last year, the market is finding its balance. Buyers now have more choice due to inventory levels sitting well above the ten-year average.

• There were 1,469 new listings added to the MLS System in Waterloo Region last month, an increase of 11% compared to September 2024 and 32.9% higher than the previous ten-year average for September.
• The total number of homes available for sale in active status at the end of September was 2,094, an increase of 22.2% compared to September 2024 and 79.5% above the ten-year average of 1,167 listings.
• The total inventory across the market increased by 29%, resulting in a 4.0-month supply of all property types by the end of September.
  • Condominium apartments had the highest inventory with 7.3 months’ supply.
  • Townhomes followed with 4.8 months’ supply.
  • Detached homes had 3.3 months’ supply.

The number of months of inventory represents the time it would take to sell all current listings at the current sales rate.

The average time to sell a home in September was 32 days — the same as in August. In September 2024, it took 28 days for a home to sell, while the five-year average sits at 19 days.

What This Means for Buyers and Sellers

The market has shifted into a more balanced place. Buyers have a bit more time and flexibility to make decisions, while sellers are still seeing good activity—especially when their homes are priced accurately and presented well.

For sellers, thoughtful preparation and the right pricing strategy remain key to standing out in a competitive market. For buyers, the current conditions offer some breathing room and a chance to negotiate carefully, which is a welcome change from the fast-paced markets of the past few years.

At the end of the day, the best time to make a move is when it feels right for you. Trying to perfectly time the market is nearly impossible—and the truth is, none of us know what tomorrow will bring. If you’re both buying and selling in the same market, remember that it’s all relative. The same factors that might make selling take a little longer can often work in your favor on your next purchase.

If you’re thinking about a move this fall or planning ahead for next year, we’d love to connect. We can sit down, review your home’s value, and talk about a personalized strategy to help you reach your goals with confidence.