October 2026
Real Estate Update
October confirmed what we have been watching all year: single-family homes are holding relatively well across Waterloo Region, while the townhouse and condo segment continues to face meaningful price pressure. Buyers have more time and more choice than they did a year ago. Sellers who price correctly are still selling.
Here is a full breakdown of October 2026 numbers across Cambridge, Kitchener, and Waterloo, with context on what the data actually means for buyers and sellers heading into the fall.
at a Glance
Region-wide, single-family median prices came in at $750,000 in October, down 5.7% from $795,000 a year ago. Sales were off 11.1% compared to October 2025, with 328 single-family homes changing hands. Days on market held flat at 28 days. Sellers are receiving essentially full list price on average — 100.0% — which tells you the market is not in freefall, but it has softened meaningfully from the 101.9% average we saw year-to-date in 2025.
The townhouse and condo picture is more challenging. Region-wide median prices for that segment dropped 9.1% year-over-year to $513,500 in October, with sales falling 20.1%. Inventory of condos and townhouses has actually pulled back significantly — down 24.2% from last year — but it has not been enough to stabilize prices yet, with days on market creeping up to 37.
Single-family is holding. Condos and townhouses are under meaningful price pressure across all three cities.
Cambridge saw the sharpest single-family sales drop of any city in October, with transactions down 26.9% year-over-year (108 sales in Oct 2025 vs. 79 in Oct 2026). That said, days on market at 33 are still manageable, and sellers are receiving 99.0% of list price — indicating that appropriately priced homes are still moving. The median SF price of $725,000 represents a 6.9% decline from last October.
| Metric | Oct 2025 | Oct 2026 | Change |
|---|---|---|---|
| Median Sales Price | $779,000 | $725,000 | -6.9% |
| Sales | 108 | 79 | -26.9% |
| Days on Market | 25 | 33 | +32.0% |
| % of List Price | 100.6% | 99.0% | -1.6% |
| Inventory | 272 | 238 | -12.5% |
| Months Supply | 3.1 | 3.0 | -3.2% |
| Metric | Oct 2025 | Oct 2026 | Change |
|---|---|---|---|
| Median Sales Price | $575,000 | $556,472 | -3.2% |
| Sales | 41 | 34 | -17.1% |
| Days on Market | 38 | 36 | -5.3% |
| % of List Price | 102.0% | 101.5% | -0.5% |
| Inventory | 177 | 149 | -15.8% |
| Months Supply | 3.9 | 4.0 | +2.6% |
One bright spot in Cambridge: the townhouse and condo segment is actually holding up better here than in Kitchener or Waterloo. Days on market improved slightly, and sellers are still achieving above 101% of list price on average — the strongest showing of any city for that segment. With months supply at 4.0, it is not a screaming buyers market for condos in Cambridge.
Kitchener's single-family market was notably more stable in October than Cambridge's. Sales of 133 were nearly flat versus 135 a year ago (-1.5%), and days on market held at exactly 27 days — no change year-over-year. The median price of $725,000 matches Cambridge but represents a smaller year-over-year drop (3.3%). Sellers are receiving 100.9% of list price, one of the strongest ratios in the Region.
| Metric | Oct 2025 | Oct 2026 | Change |
|---|---|---|---|
| Median Sales Price | $750,000 | $725,000 | -3.3% |
| Sales | 135 | 133 | -1.5% |
| Days on Market | 27 | 27 | 0.0% |
| % of List Price | 101.1% | 100.9% | -0.2% |
| Inventory | 406 | 429 | +5.7% |
| Months Supply | 3.1 | 3.4 | +9.7% |
| Metric | Oct 2025 | Oct 2026 | Change |
|---|---|---|---|
| Median Sales Price | $560,000 | $475,000 | -15.2% |
| Sales | 111 | 70 | -36.9% |
| Days on Market | 29 | 37 | +27.6% |
| % of List Price | 100.9% | 99.7% | -1.2% |
| Inventory | 521 | 385 | -26.1% |
| Months Supply | 5.3 | 4.9 | -7.5% |
The Kitchener condo and townhouse data is where things get stark. Median price dropped 15.2% year-over-year to $475,000, and sales fell 36.9% — the largest drop of any city and segment. Days on market rose to 37. This is where the condo supply overhang is being felt most acutely. Buyers in this segment in Kitchener have leverage right now.
Waterloo remains the highest-priced city in the Region for single-family homes, with a median of $841,250 in October — a modest 1.0% dip year-over-year and the most resilient of the three cities on price. Sales held essentially flat at 68 (vs. 69 in Oct 2025), and days on market actually improved slightly to 24. Sellers are receiving 100.3% of list price — the only city where that figure ticked up year-over-year.
| Metric | Oct 2025 | Oct 2026 | Change |
|---|---|---|---|
| Median Sales Price | $850,000 | $841,250 | -1.0% |
| Sales | 69 | 68 | -1.4% |
| Days on Market | 25 | 24 | -4.0% |
| % of List Price | 100.2% | 100.3% | +0.1% |
| Inventory | 174 | 139 | -20.1% |
| Months Supply | 3.0 | 2.3 | -23.3% |
| Metric | Oct 2025 | Oct 2026 | Change |
|---|---|---|---|
| Median Sales Price | $547,000 | $510,000 | -6.8% |
| Sales | 39 | 45 | +15.4% |
| Days on Market | 49 | 36 | -26.5% |
| % of List Price | 98.5% | 100.0% | +1.5% |
| Inventory | 300 | 210 | -30.0% |
| Months Supply | 6.3 | 4.9 | -22.2% |
Waterloo is the standout story in the condo and townhouse segment this month. Sales actually increased 15.4% year-over-year, days on market dropped sharply from 49 to 36, and sellers achieved exactly 100.0% of list price — up from 98.5% a year ago. Inventory fell 30.0%. Something shifted in Waterloo's condo market in October, and it is worth watching to see whether it holds in November.
for You
The two-speed market is real and it matters depending on what you are buying or selling.
You have more time than you did a year ago. Days on market are up across the board, and prices have softened 3 to 7% depending on the city. This is not a panic-buy environment. Look carefully, negotiate reasonably, and do not let a motivated seller's urgency become yours. Waterloo single-family inventory is tightening — that is the sub-market with the least slack right now.
Correctly priced homes are still selling at or very close to list price. The region average is 100.0% — that is a functional market, not a broken one. What it is not is forgiving of overpricing. Homes that launch too high are sitting, and sitting homes accumulate days on market that buyers use as negotiating leverage. Price it right from day one.
Kitchener is where the pressure is sharpest — median prices down 15.2% year-over-year is a significant correction in one segment. If you are thinking about selling, the conversation about timing and pricing strategy matters more than it did 18 months ago. If you are buying in this segment, you have room to negotiate in most markets, with Waterloo being the notable exception this month.
Data sourced from ITSO via the Cornerstone Association of REALTORS, Local Market Update October 2026. Current as of November 2, 2026.
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