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
The past month gave us a clearer picture of where the market is actually heading as we move into the spring season.
Looking at the numbers across Guelph, Kitchener-Waterloo, and Cambridge, sales activity picked up compared to February, which is typical for this time of year, but the year-over-year numbers still show a slightly softer market.
In Guelph, 120 homes sold in March, up from February but still about 13% lower than this time last year. The average sale price was around $770,000, which is up month over month and essentially flat year over year.
In Kitchener-Waterloo, 316 homes sold, a strong increase from February and about 9% higher than last year. The average price was around $715,000, slightly down both month over month and year over year.
And in Cambridge, 112 homes sold, up from February but still about 16% lower than last year, with average prices around $707,000, up month over month but down year over year.
What stands out right now is how differently homes are performing from one another.
Homes that come to market at the right price, show well, and are marketed properly are still selling, often fairly quickly. But when a home misses the mark, even a little, it tends to sit longer and requires price adjustments.
That’s a shift from the faster markets we’ve seen in recent years, where most homes would sell regardless. Today, buyers are more patient, more informed, and more willing to wait for the right option.
We’re also continuing to see stronger activity in the freehold market compared to condos, with detached homes in Kitchener-Waterloo showing solid sales growth.
Overall, the market feels stable. We’re not seeing signs of a sharp drop, but we’re also not seeing upward pressure on prices. It’s a more balanced environment.
For buyers, that means more choice and less pressure than we typically see later in the spring market.
For sellers, preparation, pricing, and execution matter more than they have in years.
Questions? Reach out directly!
Economic Update
Over the last 30 days, there’s been a lot going on in Canada’s economy, but when you focus on what really affects housing, a few things stand out.
First, the Bank of Canada kept interest rates the same and is not in a rush to lower them. They are watching inflation closely, especially with global uncertainty and higher energy prices. So rates may take longer to come down than some expect.
Second, Canada now has a majority federal government. In general, that brings more stability. The federal government has indicated a continued focus on housing supply and affordability, which can help over time but doesn’t usually push prices up right away.
Third – we’re seeing changes to the HST rebate on new construction. The government is expanding relief beyond just first-time buyers, potentially making new builds significantly more affordable for a wider group of purchasers.
What does that mean?
-Pre-construction homes become more competitive
– Some buyers may shift toward new builds instead of resale
The government has also been supporting the mortgage market by buying bonds tied to mortgages, which helps keep lending steady.
Locally, in Guelph and Kitchener-Waterloo, we’re seeing more homes for sale, buyers taking more time, and a bigger gap between well-priced homes and overpriced ones.
Guelph Neighbourhood Statistics
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KW Neighbourhood Statistics
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Cambridge Neighbourhood Statistics
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