What just happened.
October combined a 25-basis-point Bank of Canada rate cut with 569 Waterloo Region sales, down 6.7% year over year. The housing report shows the activity. It does not prove what the rate decision caused.
The average sale price was $734,928, down 5.6% year over year and 2.4% from September. Active listings reached 2,056 by month-end, 90.2% above the ten-year October average. These are measures of activity, not an explanation of household decisions.
Property type breakdown:
- Detached: 371 sales, avg $842,907 (-4.8% YoY)
- Townhouses: 89 sales, avg $593,652 (-8.2% YoY)
- Condominium apartments: 56 sales, avg $433,746 (-10.2% YoY)
- Semi-detached: 49 sales, avg $573,332 (-11.9% YoY)
Semi-detached average price was down 11.9% year over year and condo apartment average price was down 10.2%. Those were the largest property-type declines in the published October breakdown. The report does not isolate the cause.
HPI benchmarks.
| Type | K-W Oct 2025 | Monthly % | Yr/Yr % | Cambridge | Yr/Yr % |
|---|---|---|---|---|---|
| Composite | $664,300 | -1.3 | -6.9 | $690,000 | -6.5 |
| Single Family | $784,000 | -1.3 | -4.6 | $730,400 | -5.9 |
| Townhouse | $548,700 | +0.1 | -7.7 | $598,300 | -4.8 |
| Apartment | $394,200 | -3.0 | -10.3 | $448,900 | -6.5 |
October combined a rate cut with more inventory and fewer reported sales. The table shows what happened, not why it happened.
Rates, jobs and confidence can affect real estate decisions, but this report does not measure buyer confidence or prove which factor drove activity.
For sellers, 3.9 months of supply and 31 average days on market are useful context. A property-specific plan still needs current comparable sales, active competition, condition, terms and a clear launch.
For buyers, more listings can mean more choice in some price bands. It does not make every home negotiable, and the report cannot predict how long that choice will last.
What to watch in November.
- Sales after the rate cut. Later activity adds evidence, but one month still cannot isolate cause.
- Inventory direction. Compare active listings, new listings and sales together.
- Cambridge specifically. Follow the next HPI reading without treating one move as a guaranteed floor or crossover.
Source & methodology.
Data from the Waterloo Region Association of REALTORS October 2025 release, pulled from the ITSO MLS System. HPI benchmarks via MLS Home Price Index.
For your specific situation, call 519-577-7588 or request a free home evaluation.