Waterloo Region July 2026 Statistics
Sales activity in Waterloo Region was sluggish in July, down 12.2% month-over-month and 10.0% compared to the same period last year. New listings also pulled back significantly, down 14.3% on a year-over-year basis; however, they were in line with the previous ten-year average for the month,” said Bill Duce, CEO of Cornerstone. “At 3.9 months, Waterloo Region had the lowest months of supply across our market areas, but inventory remained well above the 10-year July average of 1.92 months. This means Buyers had more choice than is typical for this time of year, even as new listings moderated. The MLS® Home Price declined moderately across the region, as well as the average sale price, which was down 3.8% year-over-year. Whether you’re buying or selling, Waterloo Region has distinct communities that each tell their own story, and partnering with a local REALTOR® is an important first step to help you make an informed decision.
Waterloo Region Area Highlights:
- Waterloo Region home sales decreased 12.2% month-over-month.
- The number of newly listed properties decreased by 17.5% on a month-over-month basis.
- In Kitchener-Waterloo, the MLS® Home Price Index (HPI) was $633,300 in July 2026, a decrease of 1.3% month-over-month and a 5.5 % decline on a year-over-year basis. In Cambridge, the HPI was $662,100, which was a 1.3% decrease month-over-month and a drop of 6.3% on a year-over-year basis.
- The supply of inventory across the market decreased by 9.4% on a year-over-year basis, and there was a 3.9-month supply of all property types by the end of July, which was 4.9% lower than in July 2025.
Source: Cornerstone Association of REALTORS®
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.
Understanding the Sale of Buyer's Property Condition in Ontario Real Estate Transactions
When it comes to real estate transactions in Ontario, a "Sale of Buyer's Property Condition" (SBP) is an important option for many Buyers who want to make an offer on a new property before selling their current home. This condition allows the Buyer to make their purchase contingent upon the successful sale of their home.
How the SBP Condition Works
When a buyer makes an offer on a new property, they can include a condition stating that the offer is subject to the sale of their current home. This ensures that the Buyer is not committed to the new home purchase until their existing property is sold. The Buyer and Seller will agree on a timeline during which the Buyer expects to sell their property. This timeframe can range from a few weeks to a couple of months, depending on market conditions. If the Buyer successfully sells their home before the condition expires, they can waive the condition and proceed to closing.If the property is not sold within the agreed-upon period, the Buyer and Seller can agree to extend the condition. If an extension can't be agreed upon, the transaction will effectively terminate, a mutual release will need to be signed by both parties, and the Buyer will receive a refund of their deposit.
A Risk for Sellers
From a Seller's perspective, the "Sale of Buyer's Property" condition can be risky, especially in a strong Seller's market. The SBP condition can extend the sale process, causing the Seller to lose valuable time on the market and potentially sell for less if the Buyer isn't able to sell their home. On the other hand, in a Buyer's market, where there are more homes for sale than there are buyers, a Seller may be more willing to accept this condition. In some rural communities or niche areas in the city, a "sale of Buyer's property" condition may also be more common, especially with higher-priced homes.
Adding an Escape Clause
To make the SBP condition more appealing to the Seller, the Buyer will usually add an escape clause to the SBP condition. This clause allows the Seller to continue marketing the property during the conditional period and grants them the right to accept another offer. In this situation, the original Buyer retains the right of first refusal. During this period—typically lasting 24 to 72 hours—the Buyer must decide whether to remove the SBP condition or walk away from the agreement.
The Importance of a Solid Plan
Buyers considering this condition should have a solid plan for selling their existing home. This plan may involve pricing the property competitively, staging and decluttering the home, and being flexible with showings and open houses to increase the chances of a quick sale.
In conclusion, including a sale of Buyer's property condition in an offer can provide necessary protection for Buyers. Still, it's important to be mindful of the potential challenges and to strategize accordingly.
