The statistics provided in this release are based on information from the ITSO MLS® System. Multiple MLS® Systems operate within Ontario, and while none can be guaranteed to include every property listed or sold within a given area, they effectively illustrate market trends.
Some of the graphs and metrics usually provided in the statistics report were omitted this month due to an issue with the MarketStats application. We will update the weblink and post a notice to News and Alerts with the updated graphs and metrics once it has been resolved.
WATERLOO REGION, ON (June 6, 2025) —In May, a total of 675 homes were sold in the Waterloo Region via the Multiple Listing Service® (MLS®) System of the Cornerstone Association of REALTORS® (Cornerstone). This represents a 9.3 per cent decrease compared to the same period last year and a decline of 26.2 per cent compared to the average number of homes sold in the previous ten years for the same month.
“Even with home prices on the decline, a cloud of uncertainty looms over the economy, largely fueled by tariffs and lingering concerns about job security. This environment is causing potential buyers to hesitate, keeping them from making their move and entering the market,” says Christal Moura, spokesperson for the Waterloo Region market. “It’s not that we lack buyers or inventory; rather, consumer confidence is not at the level necessary to see stronger home sales.”
Total residential sales in May included 427 detached homes (down 8.4 per cent from May 2024), and 132 townhouses (down 1.5 per cent). Sales also included 67 condominium units (down 20.2 per cent) and 48 semi-detached homes (down 18.6 per cent).
In May, the average sale price for all residential properties in Waterloo Region was $789,154. This represents a 3.6 per cent decrease compared to May 2024 and a 0.8 per cent increase compared to April 2025.
There were 1,663 new listings added to the MLS® System in Waterloo Region last month, an increase 1.4 per cent compared to May last year and a 15.6 per cent increase compared to the previous ten-year average for May.
The average time to sell a home in May was 24 days, which was the same in the previous month. In May 2024, it took 16 days for a home to sell, and the five-year average was 14 days.
View our HPI tool here to learn more: https://www.cornerstone.inc/stats/
Cornerstone Association of REALTORS® cautions that average sale price information can help identify long-term trends but should not indicate that specific properties have increased or decreased in value. The average sale price is calculated based on the total dollar volume of all properties sold. Months’ Supply is the inventory of homes for sale at the end of a given month, divided by the average monthly closed sales from the last 12 months. Those requiring specific information on property values should contact a Waterloo Region REALTOR®. REALTORS® have their fingers on the pulse of the market. They know the questions to ask, the areas to probe and what to look for to get a complete picture of the property and community you’re considering.
ABOUT CORNERSTONE Cornerstone was formed on July 1, 2024, to better serve and represent REALTORS® in the markets of Mississauga, Burlington, Hamilton, Waterloo Region, Niagara North, Haldimand County, Norfolk County, and surrounding areas. With over 8,000 members, Cornerstone is Ontario’s second-largest REALTOR® association. Our mission is to lead with purpose, advocate boldly and create positive change for the success of our members. Cornerstone’s vision is to redefine the future of real estate through innovation and collaboration.
More information at www.cornersone.inc
The trademarks REALTOR®, REALTORS®, and the REALTOR® logo are controlled by The Canadian Real Estate Association (CREA) and identify real estate professionals who are members of CREA.
The trademarks MLS®, Multiple Listing Service® and the associated logos are owned by The Canadian Real Estate Association (CREA) and identify the quality of services provided by real estate professionals who are members of CREA. Used under license.
Some of the graphs and metrics usually provided in the statistics report were omitted this month due to an issue with the MarketStats application. We will update the weblink and post a notice to News and Alerts with the updated graphs and metrics once it has been resolved.
WATERLOO REGION, ON (June 6, 2025) —In May, a total of 675 homes were sold in the Waterloo Region via the Multiple Listing Service® (MLS®) System of the Cornerstone Association of REALTORS® (Cornerstone). This represents a 9.3 per cent decrease compared to the same period last year and a decline of 26.2 per cent compared to the average number of homes sold in the previous ten years for the same month.
“Even with home prices on the decline, a cloud of uncertainty looms over the economy, largely fueled by tariffs and lingering concerns about job security. This environment is causing potential buyers to hesitate, keeping them from making their move and entering the market,” says Christal Moura, spokesperson for the Waterloo Region market. “It’s not that we lack buyers or inventory; rather, consumer confidence is not at the level necessary to see stronger home sales.”
Total residential sales in May included 427 detached homes (down 8.4 per cent from May 2024), and 132 townhouses (down 1.5 per cent). Sales also included 67 condominium units (down 20.2 per cent) and 48 semi-detached homes (down 18.6 per cent).
In May, the average sale price for all residential properties in Waterloo Region was $789,154. This represents a 3.6 per cent decrease compared to May 2024 and a 0.8 per cent increase compared to April 2025.
- The average price of a detached home was $909,897. This represents a 3.7 per cent decrease from May 2024 and a decrease of 1.0 per cent compared to April 2025.
- The average sale price for a townhouse was $634,320. This represents a 3.5 per cent decrease from May 2024 and an increase of 3.1 per cent compared to April 2025.
- The average sale price for an apartment-style condominium was $431,944. This represents a 6.7 per cent decrease from May 2024 and a decrease of 9.4 per cent compared to April 2025.
- The average sale price for a semi was $652,627. This represents a decrease of 6.7 per cent compared to May 2024 and a decrease of 1.4 per cent compared to April 2025.
“Right now, we’re seeing a market that is different from the frenzied market of a few years ago, but that’s a good thing for buyers who have more breathing room to make decisions,” says Moura. “The fundamentals that make Waterloo Region attractive – our diverse economy, strong tech sector, world-class educational institutes and stable governance – continue to strengthen. Waterloo Region has proven time and again that it is a solid place to invest and put down roots.”
There were 1,663 new listings added to the MLS® System in Waterloo Region last month, an increase 1.4 per cent compared to May last year and a 15.6 per cent increase compared to the previous ten-year average for May.
The average time to sell a home in May was 24 days, which was the same in the previous month. In May 2024, it took 16 days for a home to sell, and the five-year average was 14 days.
View our HPI tool here to learn more: https://www.cornerstone.inc/stats/
Cornerstone Association of REALTORS® cautions that average sale price information can help identify long-term trends but should not indicate that specific properties have increased or decreased in value. The average sale price is calculated based on the total dollar volume of all properties sold. Months’ Supply is the inventory of homes for sale at the end of a given month, divided by the average monthly closed sales from the last 12 months. Those requiring specific information on property values should contact a Waterloo Region REALTOR®. REALTORS® have their fingers on the pulse of the market. They know the questions to ask, the areas to probe and what to look for to get a complete picture of the property and community you’re considering.
ABOUT CORNERSTONE Cornerstone was formed on July 1, 2024, to better serve and represent REALTORS® in the markets of Mississauga, Burlington, Hamilton, Waterloo Region, Niagara North, Haldimand County, Norfolk County, and surrounding areas. With over 8,000 members, Cornerstone is Ontario’s second-largest REALTOR® association. Our mission is to lead with purpose, advocate boldly and create positive change for the success of our members. Cornerstone’s vision is to redefine the future of real estate through innovation and collaboration.
More information at www.cornersone.inc
The trademarks REALTOR®, REALTORS®, and the REALTOR® logo are controlled by The Canadian Real Estate Association (CREA) and identify real estate professionals who are members of CREA.
The trademarks MLS®, Multiple Listing Service® and the associated logos are owned by The Canadian Real Estate Association (CREA) and identify the quality of services provided by real estate professionals who are members of CREA. Used under license.