What just happened.
January 2026 came in quiet. Really quiet. 260 total home sales across all of Waterloo Region. That's a 22.2% drop from January 2025. To put it in even sharper context, the previous ten-year average for January sales was nearly 30% higher.
Single-family sales were down 15.3% year over year. Townhouse and condo sales were down 31.3%. The report shows the size of each change, but it does not identify buyer type or explain why people waited.
Single-family median price was $750,000, down 8.3% year over year. Townhouse and condo median price was $525,000, down 10.3%. The overall median was $662,500. The average share of list price received was below 100%, but that regional figure does not describe every sale.
Single family vs townhouse/condo.
Single-family and townhouse or condo results moved differently across sales, median price, days on market, active listings and share of list price received. Compare each row instead of turning the whole month into one headline:
The condo and townhouse segment is worth comparing if you are a first-time buyer or downsizer. Sales were down 31.3% while active listings were down 4.6%, and months of supply was 3.6. The Housing Affordability Index was 84. These are regional figures, not a recommendation for one property.
HPI benchmark prices.
The HPI remained lower year over year in every row shown. Compare several months before calling a change in direction.
| Type | K-W Benchmark | Yr/Yr % | Cambridge | Yr/Yr % |
|---|---|---|---|---|
| Composite | $640,400 | -8.7 | $674,500 | -6.5 |
| Single Family | $752,500 | -8.0 | $713,500 | -6.2 |
| Townhouse | $527,400 | -8.7 | $596,500 | -4.3 |
| Apartment | $391,800 | -11.3 | $430,500 | -8.0 |
Kitchener-Waterloo apartment HPI was down 11.3% year-over-year. Cambridge's reported year-over-year changes were smaller in each row shown. The K-W composite HPI was $640,400.
January sales were lower and days on market were higher than the prior year. That is a slower regional snapshot, not a verdict on every move.
For buyers, the supply and affordability rows can help identify where to ask better questions. They do not prove that a property will avoid competition or accept a particular condition.
For sellers, strong pricing and marketing can help a home compete, but this data does not prove why one property sold sooner than another.
If you are thinking about buying or selling, start with current financing, current comparable sales and the time your own preparation requires. Call 519-577-7588 or request a home-specific evaluation.
What to watch in February.
- The next rate decision. Compare it with later local activity instead of assuming the response.
- New listings. Follow new listings, active inventory and sales together.
- Days on market. Compare February with January, while remembering that property type and price band can move differently.
Source & methodology.
All data comes from the Cornerstone Association of REALTORS' January 2026 Waterloo Region Monthly Indicators report, pulled directly from the ITSO MLS System. 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.
For your specific home value or neighborhood, this data is a guide, not a quote. Call 519-577-7588 or request a free home evaluation for real comps.