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
July was another slower month for real estate across Guelph, Kitchener-Waterloo and Cambridge. Some of this is seasonal, as activity typically slows during the summer. The good news? August is already looking considerably brighter.
Detached home sales remain well below where they were a few years ago, although the decline hasn’t been equal across the three markets. During the first six months of 2026, Guelph detached sales were approximately 42% lower than the same period in 2023. Kitchener-Waterloo was down about 23%, while Cambridge was down approximately 27%.
Why has Guelph experienced such a larger decline? There probably isn’t one answer. Last month we talked about Kitchener’s greater use of aggressive pricing, where homes are listed low to generate competition. That strategy may be helping create more sales, but it hasn’t necessarily protected prices, which remain below previous levels.
Affordability may also be playing a role. Guelph remains more expensive than both KW and Cambridge. Guelph also benefited significantly from GTA buyers moving west when the price difference was greater. As GTA prices have declined, that financial advantage has narrowed, potentially reducing some of that demand.
Now back to August. At roughly the halfway point of the month, sales activity is already approaching what we saw during the entire month of July. Unless the market comes to a grinding halt in the second half, August should comfortably surpass July. We’re also seeing more showings, stronger open-house attendance and more offers on our listings. We’re only halfway, but August is looking considerably stronger.
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Economic Update
The Bank of Canada held its overnight rate at 2.25% in July, where it has remained since December. The Bank noted that Canada’s economy is showing signs of improvement, with growth beginning to pick up after a weak year, although uncertainty around U.S. trade policy remains a significant risk.
Canada’s labour market also strengthened in July, adding approximately 75,000 jobs and bringing the national unemployment rate down to 6.4%. Locally, Kitchener-Cambridge-Waterloo’s unemployment rate improved from 8.5% to 8.1%. Guelph’s unemployment rate edged slightly higher from 7.5% to 7.6%.
Tariffs remain one of the biggest economic uncertainties. Canada and the U.S. are actively negotiating, with proposals going back and forth as they approach the August 19 deadline for threatened new U.S. tariffs. Reaching an agreement by the deadline is certainly not a given, and if one isn’t reached, our expectation is that President Trump may extend the deadline rather than immediately escalate the trade dispute.
For real estate, stable interest rates and improving national employment are encouraging. However, with Guelph, Cambridge and Kitchener-Waterloo having significant manufacturing exposure, the outcome of the U.S. trade negotiations remains particularly important for our local economy and housing market.
Guelph Neighbourhood Statistics
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KW Neighbourhood Statistics
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Cambridge Neighbourhood Statistics
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