What just happened.
February recorded 339 sales, down 8.1% year over year. Single-family sales were 204, down from 222. Townhouse and condo sales were 135, down from 147.
Average days on market rose from 19 to 35 for single-family homes and from 31 to 41 for townhouses and condos. Median prices were also lower year over year. These measures describe the month, but they do not show buyer motives or prove why one listing took longer to sell.
The Canadian Real Estate Association also reported lower national sales for the month. National context and the Waterloo Region table answer different questions, so this page does not use one to explain the other.
Single family vs townhouse/condo.
The two property segments are telling very different stories. Here's the full picture from Cornerstone's monthly indicators:
The signal here: townhouse and condo prices fell faster than single family in the reported comparison. Active listings were also lower year-over-year. The table does not show why owners listed, withdrew or changed price.
The HPI benchmark prices.
The MLS Home Price Index adjusts for changes in the mix of homes sold. It is one useful measure of price movement, not a value for a specific home. Here is the February 2026 reading:
| Type | Kitchener-Waterloo | Monthly % | Yr/Yr % | Cambridge | Monthly % | Yr/Yr % |
|---|---|---|---|---|---|---|
| Composite | $640,800 | +0.1 | -8.6 | $674,600 | +0.0 | -6.8 |
| Single Family | $752,400 | +0.0 | -8.2 | $713,800 | +0.0 | -6.7 |
| Townhouse | $527,800 | +0.0 | -8.6 | $596,800 | +0.0 | -4.5 |
| Apartment | $392,400 | +0.1 | -11.4 | $430,600 | +0.0 | -8.2 |
Month-over-month HPI changes were close to zero across the rows shown. That describes February, but one flat month does not prove the decline ended or establish a market bottom.
February was slower in several reported measures. That may create different trade-offs for buyers and sellers, but it does not make one month the best or worst point in a cycle.
Strong pricing and marketing can help a home compete, but this report does not prove why one property sold sooner or for more than another.
For buyers, the townhouse and condo rows are worth comparing with financing, fees, condition and the exact building. Run the numbers with my cash needed calculator or call 519-577-7588 to talk through the real property.
For sellers considering spring, prepare early and review current comparable sales before choosing a launch date. February alone cannot prove which month is right for one home.
What to watch next month.
- Spring listings volume. Compare new listings with sales and active inventory.
- Days on market. A lower reading would add context, not prove the whole market turned.
- Condo and townhouse pricing. Compare several months and the exact property instead of extending one annual change into a forecast.
Source & methodology.
All data on this page comes from the Cornerstone Association of REALTORS' February 2026 Waterloo Region Monthly Indicators report, which pulls directly from the ITSO MLS System. The HPI benchmarks come from the MLS Home Price Index, the gold standard for measuring price trends because it adjusts for changes in the mix of homes sold. Average and median sale prices come from actual SOLD transactions in February 2026.
For specific information on your home's value or a property you're considering, the data on this page is a guide, not a quote. Call 519-577-7588 or request a free home evaluation for real comps on your specific situation.