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
Here’s a statistic that surprised me. This year, over 50% of detached homes in Kitchener have sold above their original asking price. In Cambridge, it’s 35%, while in Guelph it’s only 22%.
The surprising part? Prices aren’t rising. In fact, detached home prices across all three cities are still below where they were a year ago. So what’s going on?
When we look at the first six months of the year, Guelph has seen the biggest slowdown in sales, down almost 14% from the first half of last year. Kitchener is down about 7%, while Cambridge is down just 4%. One possible explanation is pricing strategy.
Selling over asking doesn’t necessarily mean buyers are paying more than market value. It often means the home was priced aggressively to attract multiple buyers. The competition helps establish today’s market value, but today’s market value is still lower than it was a year ago.
That may be one reason Kitchener and Cambridge have maintained stronger sales activity than Guelph. So what does this mean for sellers?
If you need to sell, an aggressive pricing strategy may be worth considering. The goal isn’t to sell below market value. It’s to create enough buyer interest to reach today’s market value quickly.
If you don’t have to sell, pricing is still critical. Buyers today are well informed and they’re simply not paying above market value. In today’s market, pricing too high doesn’t just mean your home takes longer to sell. It can mean fewer showings, less interest, price reductions, and in some cases, no sale at all.
The market is still moving, but today’s buyers are deciding what a home is worth, not the sellers.
Questions? Reach out directly!
Economic Update
Canada’s labour market continued to improve in June, with 18,200 new jobs created and the unemployment rate edging down to 6.5%. While the headline was encouraging, the details paint a more balanced picture. Almost all of the new jobs were part-time, with full-time employment increasing by only about 600 positions. Much of the growth came from seasonal hiring in retail, restaurants and accommodation, while manufacturing continued to weaken.
The longer-term trend is more encouraging. Compared with a year ago, Canada has about 131,000 additional full-time jobs. However, employment growth has largely kept pace with population growth, suggesting the labour market remains soft rather than strong.
Ontario continues to face higher unemployment than many other provinces. Kitchener-Cambridge-Waterloo sits at 8.5%, Guelph at 7.5%, and Toronto at 7.2%.
For the housing market, this report supports the expectation that the Bank of Canada will keep its overnight rate unchanged at 2.25% on July 15. Stable interest rates should provide buyers and sellers with greater confidence and help support continued activity in the real estate market through the summer and into the fall.
Guelph Neighbourhood Statistics
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KW Neighbourhood Statistics
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Cambridge Neighbourhood Statistics
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