Market Watch July 2026
Hope you and your family are having a great summer! Pumpkins are around the corner!
Waterloo Region Real Estate Market Update July 2026
The Regional Market Tells Us the Trend. The Micro Market Tells Us the Strategy.
The Waterloo Region housing market slowed in July, with fewer sales and continued price adjustments, while inventory remained well above historical levels.
A total of 582 homes sold, down 10.0% from July 2025 and 12.2% from June. The average sale price was $706,240, down 3.8% year-over-year, while 1,167 new listings came to market.
One of the more significant numbers is 3.9 months of inventory, compared with the 10-year July average of just 1.92 months. This continues to provide buyers with considerably more choice than has historically been typical for this time of year.
Looking Beyond the Headline Numbers
Regional statistics provide an important picture of the overall market, but they don’t necessarily reflect what is happening with a particular property.
Real estate is made up of micro markets.
Conditions can vary between Kitchener, Waterloo and Cambridge, from one neighbourhood to another, between detached homes, townhomes and condos, and across different price ranges.
For example, the MLS® Home Price Index benchmark price in Kitchener-Waterloo was $633,300, down 5.5% year-over-year, while the Cambridge benchmark was $662,100, down 6.3%.
Even within those markets, individual neighbourhoods and property types can perform quite differently.
What It Means for Buyers and Sellers
For buyers, increased inventory can provide more choice, additional time to evaluate properties and, in some situations, greater negotiating leverage. However, desirable homes that are well-priced can still attract strong interest.
For sellers, increased competition makes accurate pricing, presentation and marketing particularly important. Understanding recent comparable sales, current competition, days on market and buyer activity within the property’s specific micro market is essential when developing a strategy.
The Takeaway
Market statistics are valuable, but the headline numbers are only the starting point.That’s why talking with me is important.The most useful analysis comes from understanding what is happening beneath those numbers and applying it to the specific property, neighbourhood and price range.
The regional market tells us the trend.
The micro market tells us the strategy.
Understanding both can help buyers and sellers make informed decisions and move forward with confidence.
The sales to new listing ratio for June is 50.55% indicating a balanced market. A balanced market is considered by the BOC to be between 40% and 60%.
Average days on market is 33 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 101.5%.
July Market Snapshot
- 582 homes sold
- $706,240 average sale price
- 1,167 new listings
- 3.9 months of inventory
- 33 average days on market
Thinking of buying or selling? Contact me know to buy smart and sell strong.
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!
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Thanks for reading!
Lance
ALL STATS FROM THE CORNERSTONE ITSO MLS SYSTEM
Is the GTA Market Moving Toward Balance?
After an extended period in which buyers have benefited from abundant choice and negotiating leverage, the GTA housing market showed further signs of tightening in July.
A total of 5,995 homes sold across the GTA, just 0.9% below July 2025. The more significant change was on the supply side: only 14,484 new listings entered the market, a substantial 17.8% decrease year-over-year.
With sales holding relatively steady while new listings declined sharply, the relationship between supply and demand is becoming more balanced.
Prices Are Still Lower, But There Are Signs of Stabilization
The average GTA selling price was $1,003,956, down 4.5% from July 2025, while the MLS® Home Price Index Composite benchmark declined 4.6% year-over-year.
However, the month-to-month numbers tell a more interesting story. On a seasonally adjusted basis, sales increased 3.2% from June while new listings declined 1.5%. The MLS® HPI also increased 0.3% month-over-month, suggesting that price conditions may be beginning to stabilize after the declines of the past year.
Not All Property Types Are Performing the Same
As always, the headline numbers don’t tell the entire story.
July sales of detached homes increased 0.6% year-over-year, while townhouse sales declined 2.7%. Condo apartment sales were essentially unchanged, declining just 0.1%.
Prices varied more substantially. The average detached home sold for $1,291,690, down 5.1% year-over-year, while the average condo apartment sold for $636,323, down 2.3%.
The HPI data shows an even greater difference, with the GTA apartment benchmark down 7.35% year-over-year, compared with 4.61% for detached homes.
This reinforces an important point: there is no single GTA real estate market. Location, property type and price range can produce very different market conditions.
The Takeaway
The GTA remains a market with significant choice for buyers, but the balance appears to be shifting.
Fewer new listings combined with relatively stable sales are tightening market conditions. If that trend continues, buyers may find there is less negotiating room ahead, while sellers could begin to see a more stable pricing environment. TRREB notes that improved confidence around the economy, inflation and borrowing costs could also influence activity in the months ahead.
The key will be watching whether July represents the beginning of a sustained change or simply a summer adjustment.
The regional market tells us the trend.
The micro market tells us the strategy.
For buyers and sellers, understanding both remains essential when making a real estate decision.
Reach out with any of you Toronto market questions.
Thinking of buying or selling? Contact me now to buy smart and sell strong.
GTA July at a glance:
• 5,995 homes sold — down just 0.9% year-over-year
• 14,484 new listings — down 17.8%
• $1,003,956 average sale price — down 4.5%
• MLS® HPI benchmark — down 4.6% year-over-year.
ALL STATS FROM TORONTO REGIONAL REAL ESTATE BOARD
Had fun working to raise money for Rotary Waterloo Community Grants at Waterloo’s Northern Heat Ribfest!
LOVING LOCAL!
TOGETHER FOR CARE
Local businesses are coming together for an evening of great food, fashion and community, all in support of the new Waterloo hospital and Waterloo Regional Health Network.
I’m proud to be one of the local sponsors helping support and promote Together for Care, an evening that brings our business community together for a great cause.
The event features a fabulous dinner at St. George’s Hall, a fashion show showcasing local businesses, and a great opportunity to connect with new people from across our community, all while helping support the future of healthcare in Waterloo Region.
Tickets are still available, but space is limited. If you’d like to join us for a great evening and a great cause, reach out to me to reserve your tickets.
Looking to make a move? Have questions? I help people buy and sell homes with confidence so they can move onto the next chapter. Contact me now.
Sell and move forward with confidence!
Lance Nielsen
519-748-7057
Lance@LanceNielsen.com
LANCE IS A MEMBER OF BOTH THE CORNERSTONE ASSOCIATION OF REALTORS & THE TORONTO REGIONAL REAL ESTATE BOARD
