Market Watch November 2025
Wishing you and yours a Happy Holiday Season. Here is what’s happening in the market.
WATERLOO REGION
WATERLOO REGION HOME SALES IN NOVEMBER.
In November, 465 homes were sold in Waterloo Region, marking a 14.8% decline year-over-year and nearly 25% below the 10-year average for the month, reflecting a continued cooling of the market.
Despite the typical seasonal slowdown, softer demand has pushed inventory to its highest November level in over a decade, creating opportunities for first-time buyers with more selection, longer days on market, and stronger negotiating conditions.
Detached sales fell 18%, townhomes 20.9%, and semis 6.8%, while condo sales rose 11.3%. The average sale price across all property types dipped to $713,751 (down 5.4% year-over-year), with detached homes averaging $827,617, townhouses $595,337, condos $422,056, and semis $635,375. Inventory increased 25.9% to a 3.4-month supply, led by condos at 6.4 months, and homes took an average of 39 days to sell—significantly longer than last year.
With interest rates likely holding and Waterloo Region’s ongoing desirability, market optimism remains for increased buyer activity in the year ahead.
Market Outlook
The Bank of Canada’s next rate announcement is December 10th. Expectations are that rates will hold steady.
The sales to new listing ratio for November is at 61% indicating we could be entering a seller’s market if this persists. Not likely but interesting! Balanced is considered by the BOC to be between 40% and 60%.
Average days on market increased to 39 days. It’s important to note this number reflects only homes that actually sold and not the homes that didn’t or are still on the market.
Average sale to list price ratio is 98.3%.
Looking to make a move? In this market you need an experienced Realtor®. Contact me now whether buying or selling to move forward with confidence!
By the way, your referrals are the best compliment you can give. All sales through your referrals to me will see a portion of my commission donated to The Humane Society of Kitchener Waterloo Stratford Perth.
Sell and move forward with confidence!
For more updates click like & subscribe on my YouTube channel for updates and real estate tips! (link below)
Thanks for reading!
Lance
In November 2025, the Greater Toronto Area housing market saw declines across sales, new listings, and average prices as many buyers remained cautious amid economic uncertainty.
GTA REALTORS® reported 5,010 home sales, a 15.8% decrease from November 2024, while 11,134 new listings were added, down 4% year-over-year.
The MLS® Home Price Index Composite benchmark fell 5.8%, and the average selling price dropped 6.4% to $1,039,458. Seasonally adjusted figures showed slight month-over-month declines in both sales and new listings, with prices remaining relatively stable.
Despite weaker demand, the resale market remains well supplied, though continued absorption of inventory highlights the need for more housing construction—particularly options that bridge the gap between condos and traditional single-family homes.
Positive economic and employment trends late in the year may help strengthen consumer confidence heading into 2026 says TRREB.
With tariffed related industries laying off employees such as Algoma this “trend” in my opinion, may not continue in the GTA.
Looking to make a move? In this market you need an experienced Realtor®. Contact me whether buying or selling to move forward with confidence! Contact me now!
Your referrals are the best compliment you can give. All sales through your referrals to me will see a portion of my commission donated to The Humane Society of Kitchener Waterloo Stratford Perth.
Sell and move forward with confidence!
Lance Nielsen
519-748-7057
Lance@LanceNielsen.com
