Get the latest updates on home prices, sales activity, mortgage trends, and market shifts, along with active and sold listings in Guelph, Kitchener-Waterloo, and Cambridge. Whether you’re buying, selling, or investing, our expert insights help you navigate the market with confidence.
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Guelph, KW & Cambridge Real Estate Update
There is a lot of negativity about the real estate market right now. The statistics and the headlines are saying one thing, but what we are actually seeing on the ground is something quite different.
Looking at the February numbers across Guelph, Kitchener-Waterloo, and Cambridge, the stats still show a market that is a little softer than last year.
In Guelph, 106 homes sold in February. That’s a big jump from January, but still about 12% lower than this time last year. The average sale price was just over $713,000, which is slightly down month over month and year over year.
In Kitchener-Waterloo, 230 homes sold in February. That’s up significantly from January and actually slightly higher than last year. The average price was around $734,000, which is fairly stable overall.
And in Cambridge, 89 homes sold in February, up from January but still down year over year, with average prices around $662,000.
So if you just look at the numbers, it still appears like a slower market. What we are actually seeing on the ground right now is quite different. Over the second half of February and into early March, there has been a noticeable increase in activity. Showings are up, open houses are busier, and buyers are clearly out looking again.
Many homes are still selling within a week or two, and some properties are still receiving multiple offers. We are also seeing homes that didn’t sell last year get relisted and now successfully sell.
One of the most important factors in this market is pricing. Buyers are very educated and have options. When a home is priced properly, it will usually sell fairly quickly. However, if a property is even slightly overpriced, it can sit. The difference between a home selling quickly and one sitting on the market often comes down to pricing, presentation, and marketing.
Another trend we’re seeing is increased activity in higher price points. There were several sales last month over $2 million and even one over $4 million. Right now, the freehold market is noticeably more active than the condo market, with the exception of luxury condos in Guelph. Penthouse units are receiving strong activity.
So while the statistics haven’t fully caught up yet, from an agent with boots on the ground, the market feels much healthier than it did last fall, and there are definitely more buyers out there. For buyers, this is actually a good window. Prices remain reasonable, and there is less competition than we typically see later in the spring market.
For sellers, if your home is well-staged, marketed properly, and most importantly, priced correctly, it should sell within a reasonable timeframe. Listing sooner rather than later can also be an advantage, as there are currently fewer listings than we typically see in May or June.
As we move further into March, we expect more inventory to come onto the market and the number of sales to increase. We are not anticipating a major shift in prices, but we do expect higher sales volume over the coming months.
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Economic Update
March 4th actually marked the one-year anniversary of the tariff dispute between Canada and the United States. Over that period, the effective tariff rate on Canadian goods entering the U.S. rose from about 2% to roughly 8%. That increase contributed to some of the supply chain disruptions and inflation we saw over the past year.
During the same period, the Bank of Canada lowered interest rates from around 3% to approximately 2.25% to help support the economy. Rates have now been on pause for several months as policymakers monitor how inflation and economic growth evolve.
Economists are also watching the upcoming USMCA trade discussions closely. If those negotiations were to go poorly, some analysts believe the economy could face a potential 1.5–2% hit to GDP.
There are also ongoing geopolitical tensions globally that could continue to put upward pressure on oil prices. Higher energy costs tend to ripple through the economy, raising gas and grocery prices and potentially keeping interest rates higher for longer.
Locally, these broader forces affect our cities a little differently.
Guelph’s market has been relatively resilient to tariffs, likely because the local economy is more diversified. While there is some manufacturing in the area, Guelph also has strong employment in government, education, and healthcare, which can help stabilize the housing market during periods of economic change.
Kitchener-Waterloo has been the most insulated, largely because so much of its growth is tied to technology and digital services rather than manufacturing.
Cambridge, on the other hand, has deeper ties to manufacturing, which means it can sometimes feel the effects of global trade shifts sooner. That said, the city continues to see major investment, including Toyota expanding production locally.
As a result, each of these markets is responding a little differently, largely based on the industries that drive their local economies.
Guelph Neighbourhood Statistics
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KW Neighbourhood Statistics
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Cambridge Neighbourhood Statistics
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