September 2026 - Waterloo Region Market Report
September 2026
Real Estate Snapshot
Fewer listings, fewer sales, and prices holding steady — September painted a familiar picture across Waterloo Region. Here is a full breakdown by city, with context on what the numbers actually mean for buyers and sellers right now.
Sales were down across most of the region year-over-year, but the important nuance is that inventory is also contracting. Less supply and less demand tend to cancel each other out on price — and that is largely what we are seeing, with single-family medians sitting within a few percent of last September in most cities.
The segment with the most pressure remains townhouses and condos, where prices are softer and days on market have extended in most areas. Kitchener in particular saw a significant correction in that segment.
Across the region, single-family homes are selling at 100.6% of list price — essentially full ask. Buyers coming in with lowball offers on well-priced detached homes are still losing out.
Cambridge was the most active market in the region this past month and continues to offer strong relative value. Single-family sales were down significantly year-over-year, but the median price actually ticked up to $730,000 — the only city where that happened.
Cambridge condos are still selling quickly relative to the rest of the region — 26 days on market versus 41 regionally — and townhomes are accepting offers right at list price (101.7%). For buyers priced out of Kitchener or Waterloo, Cambridge remains the best-value detached option in the region.
Kitchener's single-family segment held up reasonably well, with a median sale price of $725,000 and homes still selling at over 101% of list. The condo and townhouse segment, however, saw a notable correction — median prices dropped 20% year-over-year to $423,750, and new listings in that category fell by more than a third.
The 20% year-over-year drop in the Kitchener condo median is the most significant price movement in the region this month. Inventory in that segment dropped 28.7%, which suggests sellers are pulling back rather than cutting prices — but those who are selling are taking less. Worth watching through Q4.
Waterloo continues to be the highest-priced city in the region for single-family homes, with a September median of $830,000 — though that is down 5.5% from last year. The bright spot: sales volume actually increased year-over-year, rising 14%, making it the only city where detached transaction counts improved.
More detached homes selling faster in Waterloo is a positive signal for that segment. But condos are sitting — 50 days on market on average is notably slower than anywhere else in the region. Sellers in Waterloo's condo market need realistic pricing to move product right now.
The overall picture for Waterloo Region in September is a market in a slower but relatively balanced state. Single-family homes priced well are still selling at or above list. The condo and townhouse segment is where buyers have leverage — particularly in Kitchener and Waterloo where days on market and price softness are most pronounced.
Year-to-date, single-family sales across the region are nearly flat compared to 2025 (2,900 vs 2,944) — the month-over-month dips are real, but the bigger picture shows a market that has largely absorbed the rate environment and found its footing.
If you are thinking about selling this fall, detached homes remain in a strong position. If you are buying in the condo or townhouse segment, you have more time and more room to negotiate than you did a year ago.
