Waterloo Region Real Estate
Live Data & Neighbourhood Trends

Demand

Demand held up better in detached homes than in condos. Single-family sales reached 361, flat from last April, while townhouse and condo sales fell to 200, down 18.7 percent. Region-wide sales were down 6.7 percent, which means the slowdown was concentrated in the more affordable segment rather than across the whole market.

Pricing

Pricing stayed firm enough for most homes to sell above asking on average, but not at last year's levels. The overall sale-to-list ratio was 101.74 percent, down 0.97 percent year over year, and the median price slipped even as the average price held at $754,877. That mix suggests softer pricing at the middle of the market, with higher-end sales still supporting the average.

Velocity

Homes sold in 25.57 days on average across the region. Detached homes moved faster at 22 days, while townhouse and condo properties took 32 days. That gap shows buyers were still acting quickly in low-supply detached inventory, while attached homes faced a more patient market.

Balance

The region as a whole sat in moderate territory at 3.56 months of supply, but the balance was not uniform. Detached homes were tighter at 2.7 months, which is still seller-leaning, while townhouse and condo supply reached 5.1 months, closer to balanced and in some pockets buyer-friendly. Buyers and sellers were not facing the same market conditions across segments.

Supply

There were 790 new detached listings in April and 859 homes available for sale at month end. Inventory was down 4.7 percent from a year earlier, keeping choice relatively limited for this segment. With 2.7 months of supply, detached housing remained meaningfully tighter than the regional average.

Demand

Detached demand was steady, with 361 sales, unchanged from last April. That matters because it held firm even with affordability still stretched, showing buyers continued to prioritize this segment. Sales also ran well ahead of available supply, which kept competition in place.

Pricing

The median detached price was $800,000, down 3.08 percent year over year, while the average price was $867,132. The gap between the median and average shows higher-priced sales were still lifting the average even as the middle of the market softened. Buyers were still paying above asking on average, but the bidding environment was less intense than last year.

Affordability

Detached affordability improved, but it remained the least affordable segment in the region. The affordability index rose 8 percent year over year to 54, yet that still trails the condo segment by a wide margin. In practice, detached buyers had more financial pressure and fewer listings to choose from.

Supply

The townhouse and condo segment added 596 new listings in April and ended the month with 962 active listings. Inventory was down 5.2 percent from a year earlier, but it was still higher than detached inventory despite fewer sales. At 5.1 months of supply, this was the loosest major segment in the region.

Demand

Sales fell to 200 units, down 18.7 percent year over year. That is a much sharper drop than the regional average and shows buyers were less urgent in the attached segment. Homes still sold, but with more choice available, buyers had more room to compare and negotiate.

Pricing

The median sale price was $560,000, down 4.55 percent from last April, while the average price came in slightly lower at $552,257. When the average sits below the median, it usually points to more activity in lower-priced units or softer conditions across the segment. Sellers still achieved 101.1 percent of list on average, but pricing power was clearly weaker than in detached homes.

Affordability

This remained the region's more affordable ownership option. The affordability index rose 10 percent year over year to 77, well above detached housing at 54. Even so, improved affordability did not translate into stronger April sales, which suggests budget-conscious buyers were still selective.

New Listings

The region saw 1,386 new listings in April, with 790 detached and 596 townhouse or condo listings. Year-over-year listing growth was flat across the board, so the story this month was not a surge in new supply. Instead, market balance was shaped more by how quickly buyers absorbed what came up for sale.

Active Inventory

There were 1,821 active listings at month end across Waterloo Region. Detached inventory stood at 859, while townhouse and condo inventory reached 962, giving attached buyers more choice than detached buyers. Overall inventory was down 4.88 percent from a year ago, but the mix still favored more selection in the condo segment.

Supply Balance

Months of supply came in at 3.56 region-wide, which points to a moderate market rather than a strongly one-sided one. Detached homes were tighter at 2.7 months, keeping that segment seller-leaning. Townhouse and condo supply reached 5.1 months, creating more balanced conditions and weaker negotiating pressure for sellers.

Absorption

A total of 561 homes sold in April, down 6.67 percent from a year ago. Detached sales were flat at 361, while townhouse and condo sales dropped to 200. That split matters because it shows overall demand did not disappear, it shifted toward lower-supply detached product.

Competition

Homes still sold above asking on average, with the region at 101.74 percent of list price. Detached properties were more competitive at 102.1 percent, compared with 101.1 percent for townhouse and condo listings. Both ratios were lower than a year ago, which points to less aggressive bidding even though many sellers still met or exceeded list price.

Velocity

The average time to sell was 25.57 days across the region. Detached homes moved in 22 days, while townhouse and condo properties took 32 days, a 10-day gap that highlights the difference in buyer urgency. The speed of sale still looked healthy overall, but attached listings clearly needed more time to find the right buyer.

Broad Trend

The overall median sale price was $714,438 in April, down 3.6 percent year over year. Detached median pricing fell to $800,000, down 3.08 percent, while townhouse and condo median pricing dropped to $560,000, down 4.55 percent. That points to a broad cooling in benchmark-level pricing rather than a change isolated to one segment.

Segment Split

Detached homes continued to carry a large price premium over townhouse and condo properties. The median gap between the two segments was $240,000 in April, showing how sharply price points diverge across the region. Even with softer year-over-year pricing in both categories, the affordability divide between them remains substantial.

Value Index

The spread between median and average price was especially notable in detached homes, where the average reached $867,132 versus an $800,000 median. That suggests higher-priced detached sales were still pulling the average up even as the typical sale price moved lower. In townhouse and condo properties, the average price of $552,257 sat slightly below the $560,000 median, which is more consistent with softer lower-end or mid-range conditions.

List vs. Sale

The sale-to-list ratio helps explain why prices could decline even while many homes sold above asking. Across the region, buyers paid 101.74 percent of list on average, but that was still below last year's pace, and both major segments posted year-over-year declines in this metric. In other words, sellers were still pricing close enough to market to attract offers, but buyers were pushing back more than they did a year ago.

Broad Trend

Detached

Condo / Town

Rate Context