June Housing Stats Point to More Balanced Market in Waterloo Region
WATERLOO REGION, ON (July 4, 2025) —In June, a total of 676 homes were sold in the Waterloo Region via the Multiple Listing Service® (MLS®) System of the Cornerstone Association of REALTORS® (Cornerstone). This represents a 0.3 per cent increase compared to the same period last year and a decline of 21.7 per cent compared to the average number of homes sold in the previous ten years for the same month.
“While home sales in June were relatively stable year-over-year, we’re seeing a more balanced market emerge in Waterloo Region. What’s particularly notable is the increase in condominium sales – up over 34% – suggesting a cohort of buyers looking for more affordable housing options,” says Christal Moura, spokesperson for the Waterloo Region market. “While more listings are coming to market, properties are taking a little longer to sell, giving buyers more time to make informed decisions during their home search.
Total residential sales in June included 442 detached homes (up 5.6 per cent from June 2024), and 113 townhouses (down 17.4 per cent). Sales also included 86 condominium units (up 34.4 per cent) and 35 semi-detached homes (down 25.4 per cent).
“While home sales in June were relatively stable year-over-year, we’re seeing a more balanced market emerge in Waterloo Region. What’s particularly notable is the increase in condominium sales – up over 34% – suggesting a cohort of buyers looking for more affordable housing options,” says Christal Moura, spokesperson for the Waterloo Region market. “While more listings are coming to market, properties are taking a little longer to sell, giving buyers more time to make informed decisions during their home search.
Total residential sales in June included 442 detached homes (up 5.6 per cent from June 2024), and 113 townhouses (down 17.4 per cent). Sales also included 86 condominium units (up 34.4 per cent) and 35 semi-detached homes (down 25.4 per cent).
- In June, the average sale price for all residential properties in Waterloo Region was $780,293. This represents a 1.1 per cent decrease compared to June 2024 and a 1.2 per cent decrease compared to May 2025.
- The average sale price of a detached home was $896,770. This represents a 0.2 per cent decrease from June 2024 and a decrease of 1.4 per cent compared to May 2025.
- The average sale price for a townhouse was $624,754. This represents a 6.0 percent decrease from June 2024 and a 1.6 percent decrease compared to May 2025.
- The average sale price for an apartment-style condominium was $435,435. This represents a 5.7 per cent decrease from June 2024 and an increase of 0.7 per cent compared to May 2025.
The average sale price for a semi was $649,039, on par with June 2024 and a 0.5 per cent decrease compared to May 2025.
“Looking at the HPI benchmark prices, we’re seeing a market that’s adjusting to changing economic conditions. While we’re experiencing some year-over-year price decreases, Waterloo Region’s market fundamentals remain strong, supported by a diversified economy and the region’s appeal as a place of residence for both families and businesses,” says Moura. “These market shifts underscore the importance of working with a professional REALTOR® who can provide crucial guidance on pricing strategies, market timing, and negotiation. Their expertise helps both buyers and sellers adjust their expectations and make informed decisions in this evolving market environment.”
There were 1,514 new listings added to the MLS® System in Waterloo Region last month, an increase 5.3 per cent compared to June last year and a 15.1 per cent increase compared to the previous ten-year average for June.
The average time to sell a home in June was 27 days, compared to 24 days in the previous month. In June 2024, it took 18 days for a home to sell, and the five-year average was 15 days.
There were 1,514 new listings added to the MLS® System in Waterloo Region last month, an increase 5.3 per cent compared to June last year and a 15.1 per cent increase compared to the previous ten-year average for June.
The average time to sell a home in June was 27 days, compared to 24 days in the previous month. In June 2024, it took 18 days for a home to sell, and the five-year average was 15 days.
The statistics provided 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.
Is the First Offer Always the Best Offer When Selling?
When it comes to selling a home, you may have heard the saying, "Your first offer is the best offer." Although this isn't always true, it often is. In an ever-changing real estate market, understanding the significance of your first offer can empower you to make an informed decision. Let's explore why that first offer might hold more weight than you realize.
Serious Buyers Act Fast
Serious buyers are usually well-prepared. They've likely been house-hunting for a while, are pre-approved for financing, and know the local market. These are the buyers who are ready to submit a strong offer quickly, often within days of your listing going live. When they see a home they love, they move decisively.
The "Fresh" Factor Matters
Your home generates the most interest and online visibility within the first two weeks after hitting the market. During this period, it appears as a "new listing" in search results. Since new listings are added daily, a property can quickly become overlooked. The longer a property stays on the market without selling, the more likely you are to receive lower offers.
Market Shifts Can Be Sudden
Real estate markets fluctuate. What's true today can shift in just a couple of weeks due to interest rate hikes, seasonal slowdowns, or increased competition from new listings. Waiting for a "better" offer may mean missing out on a qualified buyer ready to act now.
Emotion Can Cloud Judgment
It's normal to feel emotionally tied to your home. You may believe it's worth more than the first offer suggests. A trusted agent can help you evaluate the offer objectively by comparing it to current sales of similar properties and the overall market conditions. With this information, your agent may be able to negotiate a better price, along with improved terms and conditions.
The first offer might not always be perfect, but it often reflects the actual market value of your home. Before dismissing it in hopes of something better, take a moment to assess the buyer's motivation, terms, and financial strength. In many cases, that "first offer" can turn out to be your "best offer."
