July Real Estate Market Update – What You Need to Know

More Homes, More Decisions

Hey there,

If you've been watching the market or even just thinking maybe it's time for a change, this is a good one to read. There’s been a noticeable shift in our local real estate market this summer, and it’s giving both buyers and sellers something to think about.

Inventory Is Up — And That Changes the Game

Right now, we’re seeing more homes on the market than we’ve seen in over a decade — the last time inventory levels were this high in the Waterloo Region was back in October 2012.

What does that actually mean?

For buyers, this is good news. More listings = more choice, less pressure to compete, and more time to make the right decision.

For sellers, it means you’ve got to come to the table prepared. With more competition out there, buyers are being choosy. Homes that are priced strategically, show beautifully, and are marketed well are still selling—quickly. The rest? They’re sitting.

A Slight Dip in Median Sale Price

The median sale price dropped just a little—from $827,500 to $824,000.

What does this tell us?

This isn’t a sign of a crashing market. In fact, it shows stability. With more listings available, buyers have room to negotiate, and that’s showing up in the numbers. But we’re still in a healthy place—prices are holding relatively steady, and well-prepared sellers are still getting strong offers.

Yes, Homes Are Still Selling

Despite higher inventory, homes are still moving. Buyers are active and serious—especially when they come across a property that ticks all the boxes. So if you’re planning to list, it’s important to lean into a solid marketing strategy and position your home to stand out.

What to Watch: July 30th BoC Rate Announcement

The next Bank of Canada interest rate decision is coming up on Wednesday, July 30th. Any rate changes could impact borrowing power and monthly payments for buyers, so we’ll be keeping a close eye on that. If you’re not sure how it could affect your plans, let’s connect—we can walk through your options together.

If you’re wondering how these market changes affect your home or your next move, just reach out. No pressure, no push—just real answers based on what matters to you.