If you’ve been watching the Waterloo Region real estate market and wondering whether now is the right time to buy, sell, or simply stay informed — February 2026 data offers some of the most encouraging signals we’ve seen in over a year. Home sales jumped sharply month-over-month, prices in Kitchener-Waterloo held steady, and Cambridge posted a modest price increase. While the market isn’t without its challenges, the numbers suggest we may be turning a corner.
“Waterloo Region is showing resilience with a significant monthly increase in sales, potentially renewing seller confidence. The stable prices from January to February in Kitchener-Waterloo and a slight uptick in Cambridge HPI could signal the bottoming out of price declines we’ve seen over the past year and reflect a market adapting and finding its footing despite broader economic pressure.”
— Bill Duce, CEO, Cornerstone
Key Highlights
- Home sales surged 25.5% month-over-month across Waterloo Region — a strong monthly rebound that may signal renewed buyer engagement heading into spring.
- New listings dipped 1.6% month-over-month, keeping supply relatively contained and preventing a significant inventory build-up.
- In Kitchener-Waterloo, the MLS® Home Price Index held flat month-over-month, though it remains down 9.3% year-over-year.
- In Cambridge, the HPI edged up 1.0% month-over-month and is down 8.2% on a year-over-year basis — a potential early indicator of price stabilization.
- Months of supply held steady at 2.6 — unchanged compared to February 2025 — despite overall inventory declining 8.0% year-over-year.
Waterloo Region — At a Glance
| Metric | Value | Year / Year |
| Home Sales | 340 | ▼ 8.1% |
| Average Price | $725,310 | ▼ 5.6% |
| New Listings | 740 | ▼ 15.8% |
| Months Supply | 2.6 | — 0.0% |
| Days on Market | 37 | ▲ 54.2% |
City of Waterloo — At a Glance
| Metric | Value | Year / Year |
| Home Sales | 72 | ▼ 2.7% |
| Average Price | $857,648 | ▲ 12.9% |
| New Listings | 139 | ▼ 23.6% |
| Months Supply | 2.8 | ▼ 9.7% |
| Days on Market | 42 | ▲ 68.0% |
City of Kitchener — At a Glance
| Metric | Value | Year / Year |
| Home Sales | 159 | ▲ 5.3% |
| Average Price | $674,998 | ▼ 9.0% |
| New Listings | 383 | ▼ 6.4% |
| Months Supply | 2.7 | ▲ 3.8% |
| Days on Market | 33 | ▲ 43.5% |
City of Cambridge — At a Glance
| Metric | Value | Year / Year |
| Home Sales | 90 | ▼ 10.9% |
| Average Price | $660,764 | ▼ 8.8% |
| New Listings | 167 | ▼ 24.4% |
| Months Supply | 2.2 | ▼ 4.3% |
| Days on Market | 36 | ▲ 44.0% |
A Note on Pricing Data
The statistics in the tables above reflect average sale prices — the mean of all properties sold in a given period. The commentary and highlights referencing price trends (including the Kitchener-Waterloo and Cambridge price changes) draw on the MLS® Home Price Index (HPI), a separate measure that tracks the price of a “typical” home over time, controlling for changes in the mix of properties sold. Together, these two measures provide a fuller picture of market conditions than either metric alone.
What This Means for Buyers and Sellers
If you’re thinking about buying: This window may not last. With inventory declining year-over-year and buyer activity picking back up, the relative breathing room buyers have enjoyed over the past year could start to narrow as we head into the spring market. If you’ve been waiting for signs of stability before making your move, February’s data may be exactly that signal. Locking in before the spring rush could mean more selection and less competition than you’ll see in the months ahead.
If you’re thinking about selling: Renewed buyer demand and tightening inventory are working in your favour. The 25.5% month-over-month jump in sales tells us that motivated buyers are out there — and with fewer new listings hitting the market, well-priced homes in good condition have a real opportunity to stand out. Pricing strategy is everything right now; homes that are priced to reflect today’s market (not 2022) are moving, while overpriced listings are sitting. A thoughtful, data-driven approach to pricing and presentation will make all the difference.
If you’re keeping an eye on the market: The regional numbers paint a useful picture, but Waterloo Region is not a single market — it’s a collection of neighbourhoods, property types, and price points that each tell a different story. A detached home in Waterloo, a condo in Kitchener, and a townhouse in Cambridge are all subject to their own micro-market dynamics. Staying informed at the regional level is a great start, but understanding what’s happening on your specific street is what leads to confident decisions.
Every buyer and seller’s situation is unique — and the right move depends on your goals, your timeline, and the specific property or neighbourhood you’re focused on. We’d love to give you a personalized breakdown of what these numbers mean for your specific situation. Reach out to see how your situation fits into the current market — no pressure, just clarity.
Data sourced from the Association of Realtors for the Waterloo Region. Statistics reflect residential property transactions for February 2026.
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