Home sales across Waterloo Region continued to slow in September, with Cambridge seeing the sharpest decline as buyers and sellers remained cautious. A total of 412 homes changed hands across the region last month, down 18.9 per cent from September 2025 and 14.2 per cent from August 2026, according to the latest figures from the Cornerstone Association of REALTORS. Cambridge stood out from the rest of the region. Home sales in the city fell 34.8 per cent year-over-year, with 90 properties sold in September compared to 138 a year earlier. Sales were also down from August, when 135 homes changed hands. Despite the decline, Cambridge remaining relatively affordable compared to Waterloo. The average sale price in Cambridge was $697,453 in September, down 4.1 per cent from a year earlier. Waterloo had the highest average price in the region at $775,276, while Kitchener’s average was $646,426. Homes in Cambridge also spent an average of 30 days on the market, which is roughly 20 per cent longer than the same period last year. Across Waterloo Region, the average home sold for about $703,000, down 6.5 per cent in September 2025. Kitchener also saw a notable decline, with sales down 12.6 per cent year-over-year. Waterloo was the most resilient of the three cities, with sales dropping just 8.2 per cent. New listings across the region were also down, falling 16.7 per cent compared to September 2026. But the number of new listings jumped 38.4 per cent from August, giving buyers more choice heading into the fall. Despite the slowdown, Cornerstone says Waterloo Region remains one of its tightest markets, with 3.8 months of housing supply. The latest figures suggest the market is becoming more balanced rather than seeing a broad collapse in prices. Still, the sharp decline in Cambridge sales marks a significant change from earlier in the year, when the city showed more resilience than Kitchener and Waterloo. September’s numbers also show a market where buyers have more negotiating room, while sellers face a longer wait to move their properties. For Cambridge in particular, fewer transactions are the clearest sign yet that the city’s housing market has cooled considerably heading into the fall.
