Market Watch February 2025
Hope all is well. These are fluid times!
In February 2025, home sales in the Waterloo Region declined significantly, with 363 properties sold—a 26.1% drop compared to last year and 38.8% below the ten-year average.
Despite this, the market saw a 7.3% increase in new listings, bringing more opportunities for buyers. Prices remained relatively stable, with detached homes seeing a modest 1.0% price increase, while townhouses and condominiums experienced slight declines.
Inventory levels rose substantially, with a 55.7% increase in active listings compared to last year, contributing to a 2.6-month supply of homes.
The average time to sell a home was 24 days, down from 34 days in January.
While concerns over tariffs and heavy snowfall impacted transactions, market activity, including open house attendance and mortgage per-approvals, suggests that buyers are waiting for the right opportunity to enter the market.
It has been just recently suggested by BMO and RBC that we could see sharper rate drops from the BOC than originally anticipated due to the current tariff war. If this happens we may see buyers come off the sidelines and into the market, which in turn could cause housing prices to go up.
Currently at a 42% SNLR we are in a balanced market. Balanced is considered by the BOC to be between 40% and 60%. (sales to new listing ratio)
If you are thinking of buying or selling and are looking for a strategy, contact me now! Sell and move forward with confidence!
For more updates click like & subscribe on my new YouTube channel! (link below)
Below are February’s Market Board Reports for Waterloo Region and the GTA.
Enjoy!
Lance
WATERLOO REGION NEW LISTINGS RISE, WHILE HOME SALES DECLINE.
WATERLOO REGION, ON (March 5, 2025) – In February, a total of 363 homes were sold in the Waterloo Region via the Multiple Listing Service® (MLS®) System of the Cornerstone Association of REALTORS® (Cornerstone). This represents a 26.1 per cent decrease compared to the same period last year and a decline of 38.8 per cent compared to the average number of homes sold in the previous ten years for the same month.
“While February’s home sales were affected by concerns over tariffs and their potential impact on employment, the market showed some encouraging signs. We saw a steady increase in new listings while prices remained stable,” notes Christal Moura, spokesperson for the Waterloo Region market. “The month’s significant snowfall created practical challenges for buyers and sellers, affecting property viewings and transactions. However, I am seeing positive indicators in the market, with consistent attendance at open houses, pre-listing appointments, steady mortgage pre-approvals, and buyers on the sidelines carefully watching for the right opportunity to make their move.”
Total residential sales in February included 221 detached homes (down 21.9 per cent from February 2024), and 71 townhouses (down 36.0 per cent). Sales also included 47 condominium units (down 35.6 per cent) and 23 semi-detached homes (down 4.2 per cent).
In February, the average sale price for all residential properties in Waterloo Region was $767,800. This represents a 1.3 per cent increase compared to February 2024 and a 1.8 per cent increase compared to January 2025.
- The average price of a detached home was $900,003. This represents a 1.0 per cent increase from February 2024 and an increase of 2.1 per cent compared to January 2025.
- The average sale price for a townhouse was $613,924. This represents a 2.7 per cent decrease from February 2024 and a decrease of 2.6 per cent compared to January 2025.
- The average sale price for an apartment-style condominium was $437,000. This represents a 5.8 per cent decrease from February 2024 and a decrease of 7.2 per cent compared to January 2025.
- The average sale price for a semi was $670,352. This represents a decrease of 0.5 per cent compared to February 2024 and an increase of 6.6 per cent compared to January 2025.
“As we navigate these shifting dynamics in the Waterloo Region housing market, it’s important to remember that while sales may be down, the increase in inventory reflects growing opportunities for buyers,” said Moura.
There were 858 new listings added to the MLS® System in Waterloo Region last month, an increase of 7.3 per cent compared to February last year and a 0.8 per cent increase compared to the previous ten-year average for February.
The total number of homes available for sale in active status at the end of February was 1,450, an increase of 55.7 per cent compared to February of last year and 68.7 per cent above the previous ten-year average of 860 listings for February.
The total inventory across the market increased by 52.9 percent, resulting in a 2.6-month supply of all property types by the end of February. Condominium apartments had the highest inventory, with 5.9 months’ supply, followed by townhouses with 3.6 months’ supply and detached homes with 1.8 months’ supply. The number of months of inventory represents the time it would take to sell off current inventories at the current sales rate.
The average time to sell a home in February was 24 days, compared to 34 days in the previous month. Likewise, in February 2024, it took 24 days for a home to sell, and the five-year average was 15 days.
GTA INVENTORY REMAINED HIGH, PROVIDING SUBSTANTIAL CHOICE AND NEGOTIATING POWER TO BUYERS
TORONTO MARCH 4 2025 Homebuyers continued to benefit from substantial choice in the Greater Toronto Area (GTA) resale market in February 2025. Home sales last month were down compared to the same period last year, while listing inventory remained high, providing substantial negotiating power for homebuyers.
“Many households in the GTA are eager to purchase a home, but current mortgage rates make it difficult for the average household to comfortably afford monthly payments on a typical property. Fortunately, we anticipate a decline in borrowing costs in the coming months, which should improve affordability,” said TRREB President Elechia Barry-Sproule.
“On top of lingering affordability concerns, homebuyers have arguably become less confident in the economy. Uncertainty about our trade relationship with the United States has likely prompted some households to take a wait-and-see attitude towards buying a home. If trade uncertainty is alleviated and borrowing costs continue to trend lower, we could see much stronger home sales activity in the second half of this year,” said TRREB Chief Market Analyst Jason Mercer.
GTA REALTORS® reported 4,037 home sales through TRREB’s MLS® System in February 2025 – down by 27.4 per cent compared to February 2024. New listings in the MLS® System amounted to 12,066 – up by 5.4 per cent year-over-year. On a seasonally adjusted basis, February sales were down month over month compared to January 2025.
The MLS® Home Price Index Composite benchmark was down by 1.8 per cent year over year in February 2025. The average selling price, at $1,084,547, was down by 2.2 per cent compared to the February 2024. On a month-over-month basis, the MLS® HPI Composite and the average selling price edged lower after seasonal adjustment.
“With the Ontario provincial election just behind us and the federal political situation in flux, there is a lot to consider from a policy perspective when it comes to housing. Not only do policymakers and those vying for high public office need to make clear their direction on housing supply and affordability, but they also need to be clear on how they intend to tackle issues related to trade and the economy. Clear direction will go a long way to strengthen consumer confidence,” said TRREB Chief Executive Officer John DiMichele.
Homemade Ketchup Recipe 🍅
Ingredients:
– 1 can (28 oz) whole tomatoes or 3 cups fresh tomatoes
– ¼ cup vinegar
– ¼ cup honey, maple syrup, or brown sugar
– ½ tsp black pepper
– ½ tsp onion powder
– ½ tsp garlic powder
– ½ tsp sea salt
– ½ tsp paprika
Credit @2days.delights
Instructions:
1. Blend the whole tomatoes until smooth.
2. Strain the blended tomatoes into a saucepan and add all the spices and seasonings.
3. Stir well and simmer over medium heat for about 8-10 minutes, until it thickens, stirring occasionally.
4. Let it cool completely. Pour into an airtight container and refrigerate for up to 3-4 weeks, or freeze for up to 6 months.
I’ve also put a similar recipe in a smoker for 15mins for smoked ketchup!
L
If you are considering buying or selling, contact me anytime to answer your questions, big or small. Call now!
Problem solver in the real estate market.
Sell and move forward with confidence!
Lance Nielsen
519-748-7057
Lance@LanceNielsen.com
