August 2026 — Waterloo Region Market Report
Sales Pulled Back in August.
Prices Didn't.
August is historically the quietest month in Waterloo Region real estate — and 2026 held true to form. Sales volume dropped across every city compared to July. But the more important story is what didn't happen: prices held, inventory tightened and the homes that did sell moved quickly. The market paused. It didn't break.
Waterloo Region — August 2026 Overview
Regionally, the August numbers are almost identical to July on price and sale-to-list ratio. Average SF price edged up from $811,734 in July to $830,071 in August. Sale-to-list held at exactly 100.3%. Months supply at 2.8 is actually tighter than July's 3.2. What changed is volume — 322 sales vs 383 in July — a seasonal drop that reflects families finishing summer, not a market in retreat.
The year-to-date picture reinforces this. Through eight months of 2026, single family sales across Waterloo Region are up 0.6% vs the same period in 2025. The market is essentially flat on volume year-over-year. That is not a market in decline — it is a market finding its level.
July vs August — What the Drop Actually Looks Like
The month-over-month comparison shows the seasonal slowdown clearly — but also shows why the headline numbers understate the underlying stability.
| Area | July Avg Price | Aug Avg Price | July Sales | Aug Sales | July DOM | Aug DOM | July S/L | Aug S/L |
|---|---|---|---|---|---|---|---|---|
| Waterloo Region | $811,734 | $830,071 | 383 | 322 | 30 | 30 | 100.3% | 100.3% |
| Cambridge | $747,204 | $812,777 | 95 | 89 | 28 | 32 | 99.9% | 99.9% |
| Kitchener | $787,739 | $773,678 | 156 | 136 | 29 | 29 | 100.4% | 100.8% |
| Waterloo | $890,167 | $909,138 | 80 | 52 | 30 | 20 | 101.3% | 101.4% |
Sales fell in every city month-over-month — down 16% regionally, with Waterloo seeing the steepest drop at 35%. But look at what accompanied that drop in Waterloo: DOM fell from 30 to just 20 days and sale-to-list held at 101.4%. Fewer homes sold, but the ones that sold moved faster and above asking. That is not weakness — that is a tight market with selective buyers acting decisively when the right home appears.
“Sales volume in August is always lower than July — that's the calendar, not the market. The signal to watch is price and sale-to-list, and both held steady. The fall market starts now.”
Single Family — August City Breakdown
| City | Avg Sale Price | YoY | Sales | YoY | DOM | Sale/List | Mths Supply |
|---|---|---|---|---|---|---|---|
| Waterloo Region | $830,071 | ▼ 2.1% | 322 | ▼ 0.6% | 30 | 100.3% | 2.8 |
| Cambridge | $812,777 | ▲ 7.6% | 89 | ▼ 4.3% | 32 | 99.9% | 2.9 |
| Kitchener | $773,678 | ▼ 4.2% | 136 | ▲ 5.4% | 29 | 100.8% | 2.8 |
| Waterloo | $909,138 | ▼ 7.2% | 52 | ▼ 8.8% | 20 | 101.4% | 2.2 |
Cambridge — Average Price Up 7.6% YoY
Cambridge posted the strongest year-over-year average price growth of any city in the region at +7.6%, with average SF price rising to $812,777. This follows a median also up 2.1% YoY to $740,000. With months supply at just 2.9 and 243 homes available, inventory remains tight. Sales of 89 were down modestly from July's 95 but the pricing strength tells the more relevant story. Cambridge buyers are competing and sellers are being rewarded. New to Cambridge? Read the relocation guide →
Waterloo — 20 Days on Market
Waterloo posted just 20 days on market in August — the fastest of any city and a sharp drop from 30 days in July. Despite volume falling to 52 sales, the homes that came to market sold quickly and at 101.4% of list price. Months supply tightened to 2.2 — the tightest in the region. New listings surged 46.5% YoY to 104, meaning more homes came to market and buyers absorbed them quickly. Average price at $909,138 was down 7.2% YoY but the activity metrics tell a more active story than that headline suggests.
Kitchener — Only City With Rising Sales YoY
Kitchener was the only city to post year-over-year sales growth in August — 136 sales, up 5.4% from August 2025. That is a meaningful signal. Sale-to-list of 100.8% means buyers are still paying full price or slightly above on well-positioned Kitchener detached homes. Average price at $773,678 was down 4.2% YoY but DOM held steady at 29 days and months supply at 2.8 reflects a balanced-to-tight market. Exploring Kitchener? Read the Auditorium neighbourhood guide →
Townhouses & Condos — Still the Soft Spot
The attached property segment remained soft in August. Regionally, condo and townhouse sales fell 28.2% year-over-year with DOM climbing to 48 days. Sale-to-list dropped to 98.8% — meaning the average condo or townhouse sold below asking. This has been the consistent story throughout 2026 and August was no different.
| City | Avg Sale Price | YoY | Sales | YoY | DOM | Sale/List | Mths Supply |
|---|---|---|---|---|---|---|---|
| Waterloo Region | $501,805 | ▼ 9.4% | 155 | ▼ 28.2% | 48 | 98.8% | 4.6 |
| Cambridge | $528,770 | ▼ 9.9% | 27 | ▼ 28.9% | 53 | 97.7% | 4.1 |
| Kitchener | $476,122 | ▼ 10.0% | 70 | ▼ 36.4% | 47 | 99.6% | 4.6 |
| Waterloo | $508,763 | ▼ 8.1% | 51 | ▼ 10.5% | 47 | 98.5% | 5.4 |
If you own a condo or townhouse and are thinking about selling, the fall market — September and October — is the window. Waiting for conditions to improve significantly before year-end is unlikely to pay off. Price it for where the market is, not where it was. Request a free home evaluation →
What This Means Heading Into Fall
The August numbers confirm what the year has been showing: the single family market in Waterloo Region is stable, inventory is tight and well-priced homes are selling. The volume softness is seasonal. Labour Day weekend marks the return of the fall market — historically the second busiest period of the year — and buyers who have been sitting on the sidelines through summer typically re-engage sharply in September.
For sellers: if you have been waiting for the right moment, the window is opening now. Price accurately from day one — fall buyers have been watching the market all year and they know what things are worth. Read why pricing right matters →
For buyers: pre-approve now before October rate decisions, start touring in September and use the remaining summer inventory while buyer competition is still lighter than it will be in a few weeks. Use the Mortgage Calculator →
For the full 2026 picture, see the July 2026 Market Report and the full 2026 market stats archive. And if you're thinking about timing your fall move, the Fall Market Guide covers what to do right now on both the buyer and seller side.
is worth heading into the fall market?
