June 2025 – Economic uncertainty tempers Waterloo Region’s Real Estate Market despite growing inventory

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.