📊 Waterloo Region Real Estate Update – October 2026

As of November 3, 2026: buyers stepped back into the Waterloo Region market in October, with 489 homes sold -- up 18.7% from September. New listings eased to 1,025 after September's bigger wave, so some of that extra selection is now being absorbed. The average sale price for all residential real estate finished at $718,851, down just 1.3% from last October and much closer to last year than the 6.5% gap we saw in September. Days on market held exactly where they were a year ago at 31, and months of inventory tightened slightly to 3.7 -- still the tightest supply of any Cornerstone market area. That combination gives both sides something to work with -- buyers still have options to compare, while sellers who price with the market in mind and present well are finding motivated buyers. Here is a quick look at what stood out this month:

• 🏠 489 homes sold (up 18.7% from September, down 14.5% year over year)
• 📋 1,025 new listings came to market (down 16.8% from September, down 17.3% year over year)
• 💰 Average price for all residential real estate: $718,851 (down 1.3% year over year)
• ⏱️ Average days on market: 31 -- unchanged from last October and down from 33 days in September

Single-family homes saw 343 sales in October, with an average price of $827,560, down just 1.0% compared to last year. Months of inventory sits at 3.1 months, unchanged from last October, and detached homes sold in an average of about 28 days. Keep in mind that is the average -- there are plenty of homes selling above and below that number depending on location and condition.

Looking at other property types, 43 semi-detached homes sold with an average price of $568,696 -- almost exactly where prices were last year, down 0.8% -- and just 1.8 months of inventory, making it the tightest segment in the market and the quickest-selling at about 24 days. Condominiums recorded 41 sales with an average price of $392,861 and 7.0 months of inventory -- still the most saturated segment, so condo sellers need a sharp price and strong presentation to stand out, while condo buyers have real room to negotiate. Meanwhile 77 townhomes sold at an average price of $543,736 with 4.3 months of inventory, down 10.4% from last year, so townhome buyers still have good selection as that segment slowly tightens.

The other big story this month is borrowing costs. On October 28, the Bank of Canada raised its policy rate by a quarter point to 2.5%, its first increase in more than three years. For variable-rate borrowers, that works out to roughly $13 more per month for every $100,000 of mortgage, and fixed rates, which follow the bond market, have stayed elevated this fall. The Bank has said it will proceed carefully and economists are divided on what comes next, so if you are planning a move, getting pre-approved with a rate hold is a smart way to protect your buying power. Whether you are buying or selling, the fundamentals have not changed -- the right price, the right presentation, and a little patience make the difference.

If you would like a deeper breakdown by Kitchener, Waterloo, Cambridge, or by your specific property type, reach out to us -- we are always happy to walk through the numbers with you and help you understand what they mean for your next move.

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