Waterloo Region Real Estate Market Update -- May 2026

May is historically one of the busier months for real estate and this one was actually one of the quietest we have seen in about 15 years -- but the steady month over month progress since January tells us the market is gradually finding its footing. A total of 627 homes sold through MLS, up 9.8 percent from April, while 1,452 new residential properties came to market, an increase of 3.9 percent. The average sale price for all residential real estate came in at $744,032, down 5.8 percent year over year, while the average days on market held steady at 24 days -- unchanged from the same time last year.

Months of inventory across all property types sat at 4.0 months, down 4.8 percent year over year, reflecting a balanced market across Waterloo Region including Kitchener, Waterloo, and Cambridge. There is opportunity on both sides right now -- some buyers are finding great value while some sellers are still achieving top dollar, depending on the property and the neighbourhood.

Single detached homes saw 361 sales at an average price of $851,674, down 6.6 percent year over year, with inventory at 3.2 months. Semi-detached homes were the tightest segment in the market with just 1.8 months of inventory and 41 sales at an average price of $603,056. Townhomes saw 106 sales at an average price of $582,555 with 4.7 months of inventory. The condominium segment recorded 53 sales at an average price of $410,307 with inventory at 8.9 months, making it the most saturated segment in the region.

The market rewards the right strategy -- the right price, the right presentation, and a little patience. Well-priced and well-presented homes are still getting good results across all segments.

For a personalized breakdown of what these numbers mean for your specific situation in Kitchener, Waterloo, Cambridge, or your neighbourhood, contact Melanie and Warren McNeil, REALTORS at Peak Realty Ltd., Brokerage. Visit teammcneil.com or call 519-590-3767.

Data sourced from the Cornerstone Association of REALTORS and ITSO. Current as of June 4, 2026.

Waterloo Region
Melanie & Warren McNeil, REALTORS®
Peak Realty Ltd., Brokerage
hello@teammcneil.com
519-590-3767 ~ 519-498-8118