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

Spring is wrapping up, but it’s clear this wasn’t your typical spring real estate market. Since January, home sales have been ticking up month by month—but they’re still well below the 10-year average. We’ll be watching to see if that upward trend continues into summer or tapers off with the usual seasonal shift.

Prices, once again, were generally lower compared to last year; however, the average price of a home in Guelph, Kitchener-Waterloo, and Cambridge increased this month. In fact, the highest sale price in the region was once again in Waterloo, a detached home sold for $3,300,000, the lowest home was also in Waterloo, a condo that sold for $190,000

Breaking down the sales numbers,

Guelph saw 173 homes sell in May, up 14% from April, down 8% from last year.
Kitchener/Waterloo saw 423 homes sold—up 8% from April but down 13% year-over-year.
Cambridge saw 160 homes sold, which is a 7.4% increase from April, down 6% compared to last year.

In terms of pricing,

Guelph’s average sale price was $823,518, up last month by 4.44% and slightly down from last year at 2.16%.
Kitchener/Waterloo’s average sale price came in at around $783,270, up 2.8% from last month but down 1.71% from last year.
Cambridge experiences similar results with month-over-month results up 1.48%, and year-over-year, they are down 7.27%, with the average price of $753,205.

Inventory continues to build, with 1,927 new listings hitting the market in May. We’re clearly in a buyer’s market right now, which creates a real opportunity—whether you’re buying for the first time, investing, or moving up.

For sellers, this means that showing value is key. That might be through upgraded finishes, unique features, or pricing that gets buyers to take notice. Most analysts expect the second half of the year to pick up—nothing drastic, but a moderate improvement compared to the first.

Questions? Reach out directly!

Economic Update

Interest Rates & Inflation

The Bank of Canada held rates this week—but in my opinion, they should’ve cut. Yes, inflation ticked up in Q1, but when you look closer, a lot of that came from one-off events: U.S. companies stockpiling goods ahead of new tariffs, and the temporary GST holiday early this year. That’s not sticky inflation—it’s artificial.

Unemployment

Meanwhile, there are signs the economy is already cooling. Unemployment is climbing. In May, the unemployment rate rose to 7 per cent, marking a third consecutive monthly increase. Delinquencies are rising across mortgages, auto loans, and credit cards. And we’re just entering a wave of mortgage renewals, where households will be facing much higher rates while already stretched thin.

In Ontario—especially the GTA— the real estate market is starting to feel the pressure. Listings are up, but sales are soft. Prices in Toronto are down over 4% year-over-year. And in the $1.2 million and above range, only the homes that truly stand out are selling quickly.

As economist David Rosenberg put it: “The Bank of Canada should have cut rates. The economy is slipping into recession, and they’re behind the curve.”

Even Governor Tiff Macklem acknowledged last week, “Growth has slowed, and the effects of past rate hikes are working their way through the economy.”

This doesn’t mean it’s time to panic—but it is time to plan. For buyers, this pause is your chance to get pre-approved and ready before the market shifts again. For sellers, it’s about pricing right, especially if you’re in that higher price range.

This rate hold isn’t a green light or a red light. It’s more like a flashing yellow: proceed with strategy