Kitchener Waterloo condo market remains Soft going into fall

I hope you had a wonderful  weekend. We have been having some great weather so far this fall and I hope it continues. 

The stats are out for September and things seem to be pretty balanced. We did see an uptick in activity in the past month so fingers crossed that it continues into the rest of fall. Let’s take a look at the stats…

In September, a total of 502 homes were sold. This represents a 4.7 per cent decrease compared to the same period last year and a decline of 25.0 per cent compared to the average number of homes sold in the previous ten years for the same month. 

The September housing market continues to reflect broader economic conditions, with sales remaining below both last year’s levels and the ten-year average. While sales volumes have moderated from last year, this shift has created a more balanced market where buyers can take time with their decisions.  Well-priced properties continue to attract attention, while homes that are priced above market value seem to be sitting on the market much longer than they should. 

Total residential sales in September included 325 detached homes (down 4.1 per cent from September 2024), and 91 townhouses (down 5.2 per cent). Sales also included 51 condominium units (down 13.6 per cent) and 34 semi-detached homes (up 6.3 per cent).  

In September, the average sale price for all residential properties in Waterloo Region was $753,162. This represents a 4.7 per cent decrease compared to September 2024 and a 3.2 per cent increase compared to August 2025.  

• The average sale price of a detached home was $858,872. This represents a 5.9 per cent decrease from September 2024 and an increase of 1.4 per cent compared to August 2025.  
• The average sale price for a townhouse was $606,871. This represents a 1.7 per cent increase from September 2024 and an increase of 1.8 per cent compared to August 2025.  
• The average sale price for an apartment-style condominium was $442,086. This represents a 8.9 per cent decrease from September 2024 and an increase of 2.0 per cent compared to August 2025.  
• The average sale price for a semi was $621,026.  This represents a decrease of 5.1 per cent compared to September 2024 and an increase of 0.5 per cent compared to August 2025. 

MLS® Home Price Index Benchmark Price (HPI)
	Kitchener-Waterloo			Cambridge
Benchmark Type:	September 2025	Monthly % Change	Yr./Yr. % Change	September 2025	Monthly % Change	Yr./Yr. % Change
Composite	$673,100	-0.3	-7.6	$701,700	0.1	-5.4
Single Family	$794,600	-0.1	-5.9	$742,700	0.1	-4.5
Townhouse	$548,300	-1.3	-9.0	$611,500	0.3	-4.7
Apartment	$406,200	-0.9	-6.8	$453,100	-0.4	-5.9

There were 1,469 new listings added last month, an increase 11.0 per cent compared to September last year and a 32.9 per cent increase compared to 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 per cent compared to September of last year and 79.5 per cent above the previous ten-year average of 1,167 listings for September. 

The total inventory across the market increased by 29.0 percent, 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, followed by townhouses with 4.8 months’ supply and detached homes with 3.3 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 September was 32 days, which was the same in the previous month. In September 2024, it took 28 days for a home to sell, and the five-year average was 19 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 fall 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 Thanksgiving next weekend with your families!

Kevin