Kitchener-Waterloo-Cambridge Housing Market Report
- Average home prices in the Kitchener-Waterloo-Cambridge Region decreased by 5.3% annually to $728,465 and declined 0.9% from last month.
- Kitchener-Waterloo benchmark prices fell 7.1% annually and 0.4% monthly to $675,400.
- Cambridge benchmark home prices declined 5.6% annually and 1.5% monthly to $701,100.
- The average detached price was $846,405, down 4.8% year-over-year and 1.3% month-over-month
- The average semi-detached price dropped to $618,206, a 5.5% annual decrease and 4.1% lower than July.
- Townhouses averaged $594,200, down 2.8% annually and 1.5% monthly.
- Condominiums averaged $433,113, down 5.2% year-over-year, but up 4.2% from July.
- October 6, 2025 Update: Today’s Lowest mortgage rate in Kitchener is 3.79% for 5-Year Variable.
Kitchener-Waterloo-Cambridge Housing Market Overview
Kitchener-Waterloo-Cambridge Housing Market: Price Movements for August 2025
Kitchener-Waterloo Benchmark Home Price | $675,400 | -0.4% 1-Month Change | -7.1% 1-Year Change |
Cambridge Benchmark Home Price | $701,100 | -1.5% 1-Month Change | -5.6% 1-Year Change |
Average Home Price | $728,465 | -0.9% 1-Month Change | -5.3% 1-Year Change |
Note: The MLS HPI benchmark price represents the value of a ‘typical’ home in the area.
Kitchener-Waterloo-Cambridge Housing Market as of August 2025
Average Prices and Home Sales
The average price in the Waterloo region was $728,465, representing a 5.3% annual decrease and a 0.9% decline from last month.
Average Prices by Property Type - August 2025
- Detached homes: $846,405 (down 4.8% from August 2024)
- Townhouses: $594,200 (down 2.8% from August 2024)
- Condominiums: $433,113 (down 5.2% from August 2024)
- Semi-detached homes: $618,206 (down 5.5% from August 2024)
536 home sales in the Waterloo Region in August 2025 were 0.6% below last August and 17% lower than the 10-year average for this month of the year. 1,028 new listings are up 3.3% from last August and 11% higher than the average 10-year new listings during August. The Waterloo area housing market remains in balanced market territory this month, with homes taking an average of 32 days to sell compared to 25 days in August 2024. A balanced market provides opportunities for both buyers and sellers with moderate pricing pressure.
Sales by Property Type - August 2025
- Detached homes: 320 sales (down 4.5% from August 2024)
- Townhouses: 101 sales (down 1.9% from August 2024)
- Condominiums: 62 sales (up 3.3% from August 2024)
- Semi-detached homes: 55 sales (up 38% from August 2024)
Benchmark Home Prices
For August 2025, benchmark prices continued their recent decline, with Cambridge seeing a 1.5% monthly decrease and a 5.6% annual decrease to $701,100. In Kitchener-Waterloo, benchmark prices were down 0.4% over the past month and 7.1% over the past year, reaching $675,400. Despite these recent corrections, the benchmark price of homes in Cambridge has still risen by a remarkable 121% over the past ten years and 169% over the past fifteen years. Similarly, Kitchener-Waterloo has seen increases of 116% and 158% over the same periods. In contrast, inflation (CPI) has been 29% and 41% over the past 10-year and 15-year periods, highlighting the incredibly rapid and substantial long-term appreciation in this area's housing market.
Market Outlook
The longer average days on market (32 days vs. 25 days last August) reflect a more balanced market environment where buyers can take their time to make informed decisions, while sellers are adjusting their expectations to fit current market conditions.
Note: The benchmark price reflects the value of a typical home based on MLS® HPI, while the average and median prices represent actual transactions. The average can be skewed by high-end sales, while the median is less sensitive to extremes.
Kitchener-Waterloo-Cambridge Housing Market Statistics for All Property Types
Average Sold Price
Total Transactions
Property Type Distribution
Market Overview for Detached Homes
Average Sold Price
Transactions
Market Overview for Semi-Detached Homes
Average Sold Price
Transactions
Market Overview for Townhouses
Average Sold Price
Transactions
Market Overview for Condo Apartments
Average Sold Price
Transactions
Housing Markets of Major Cities in the Kitchener-Waterloo-Cambridge Region
Housing Markets Across Canada
Glossary and Definitions
MLS® HPI: The MLS® Home Price Index (HPI) is an index by the Canadian Real Estate Association (CREA) that tracks the prices of homes in a neighborhood. It allows Canadians to quickly compare home prices across Canada and between periods of time without having to account for specific features of a property. Unlike market prices, which can fluctuate from month to month based on seasonal dynamics, the HPI provides a stable view and tracks trends across a longer period of time. The HPI is reviewed every year in May to adjust for changes in the real estate marketplace.
MLS® HPI Benchmark Price: The MLS® Home Price Index (HPI) Benchmark Price is the HPI translated into a real-world price number.
Strata Insurance: Strata insurance is insurance used by a strata like a condominium to cover damages to common areas and assets and liability to the strata. It can also include fixtures built or installed as part of the original construction of each unit, even though these may not be common structures. The insurance can cover:
- Buildings and structures associated with the strata including common areas such as the roof, parking garages, driveways, gyms, pools, etc.
- Liability for any property damage or bodily injury suffered on strata property
- Any fixtures that are part of the "standard unit" or original construction of each unit
Strata insurance does not usually include personal items and appliances that are part of a condo unit. It also does not cover the damages made by individual unit owners, such as in the case of water damage caused by a unit owner. These are usually covered by personal condo insurance.
Property types
Detached home: A detached home is your standard single-family home. It is a residential building that stands alone and is separately titled or legally a single unit.
Semi-detached home: A semi-detached home is similar to a detached home, except it shares a wall with another home. This pair of homes must make up an independent building and each should be separately titled or legally two separate units. There can only be two homes in a semi-detached building.
Townhouses: A townhouse is the middle between a detached/semi-detached home and a condo apartment. Like detached and semi-detached homes, they are often single-family units that have their own land and may be attached to other units. However, like condo apartments, they typically have to pay co-ownership fees for maintenance and may share some common features with their neighbors.
Condo apartment: This category includes all apartments and condominiums. These are complexes of residential units with common areas such as hallways, parking lots, stairwells, etc. They can be low-rise, mid-rise, or high-rise buildings. Unlike townhouses, there are no parts of the lot (the land of the building) where access is reserved for only one owner or occupant. There can be privately owned units and spaces inside the building.
Plexes are multi-story buildings with two to four individual units, usually one on each floor. They are a mainstay in Montreal and other cities in Quebec. Each unit is usually individually accessible via an external entrance with higher floors connected by staircases.
Property Classes
Freeholds: A freehold is any property where the owner owns both the house and the land it is built on. Common freehold property types include: detached, semi-detached, some townhouses, and farmland.
Condominiums: A condominium or condo is any property where the owner owns the home (or unit) but shares ownership of the land and other improvements with a condominium corporation. Common condominium property types include condo apartments and some townhouses.
Leasehold: Leasehold describes the situation where different entities own the land and the structure built on the land. Owners of the buildings have leased the land and pay rent to their landlord while owning the building on the land.
Housing Markets Across Canada
Data sourced from the Waterloo Association of Realtors (WRAR) and the Canadian Real Estate Association (CREA). Any analysis or commentary is the opinion of the analysts at WOWA.ca and should not be construed as investment advice. Please consult a licensed real estate professional before making a real estate investment decision. The trademarks MLS®, Multiple Listing Service® and the associated logos are owned by The Canadian Real Estate Association (CREA) and identify the quality of services provided by real estate professionals who are members of CREA.
Disclaimer:
- Any analysis or commentary reflects the opinions of WOWA.ca analysts and should not be considered financial advice. Please consult a licensed professional before making any decisions.
- The calculators and content on this page are for general information only. WOWA does not guarantee the accuracy and is not responsible for any consequences of using the calculator.
- Financial institutions and brokerages may compensate us for connecting customers to them through payments for advertisements, clicks, and leads.
- Interest rates are sourced from financial institutions' websites or provided to us directly. Real estate data is sourced from the Canadian Real Estate Association (CREA) and regional boards' websites and documents.
- The trademarks MLS®, Multiple Listing Service®, and associated logos are owned by CREA and identify services provided by its members.