It's here, the most comprehensive real estate market report for the entire region - Cambridge, Guelph, Kitchener, and Waterloo. Prepared in-house, and always with maximum attention to detail to ensure the most complete data and analysis possible.
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City of Cambridge
A tale of two cities.
Cambridge, the little adopted covid-era darling of GTA-West real
estate has officially returned to it’s previous life as a steady familydriven market.
Two unjustified and GTA buyer-driven years have
officially come to a hard stop. An abrupt ending and one the city
may be dealing with for many years to come.
A city-wide 15% Q/Q reduction in the median sale price has placed
Cambridge in the more familiar territory of +/- 10% when compared
with it’s urban counterparts across the Region. We expect to see
this gap maintain or even widen in the coming Q’s as Cambridge
families pick up the pieces and process the market aftermath of a
very chaotic time.
City of Guelph
The bigger picture.
After an extended and emotional ride, the latter parts of Q2 saw
a return to more familiar times in Guelph. Often praised for a real
estate market you could set your watch to, the past few years have
been anything but on-time and predictable. With those frenzied
times now firmly in the rear-view, Guelph is shaking it off and
appears to be settling back in to a more recognizable pattern.
Homeowners have benefitted, not everyone.
With freshly elevated prices, a disgraceful lack of new home supply,
sky-high rents and a huge shortage of affordable housing options,
local politicians have to start solving problems. For real this time.
It’s time to cut the municipal red tape, prehistoric rhetoric and get
working on real solutions for all current and future Guelphites. Not
just present property owners and voters.
Cities of Kitchener & Waterloo
Everything in its right place?
Even through the tumultuous and profit-driven past 2 years of KW real
estate, the dust is actually settling in a somewhat orderly fashion. The
typical price point gaps in product types and locations are falling into
their predictable locations. Despite the unsettling times, some overall
market drivers for KW real estate are still firmly in place - professional
employment opportunities, excellent public transportation and ongoing
new home construction.
Young people are continuing to see KW as the hub of opportunity
within the Region. Even in a real estate world filled with unknowns,
opportunities are all around. The key for savvy home buyers, and even
renters, is knowing who to listen to and knowing where to look.
We said it before, this is a big moment for KW real estate. A time to
provide some consistency and housing leadership in the Region. Let’s
see what happens next.
And then there was one.
After the covid-driven mass-migration out of the city, the
surrounding Townships are having to adjust to their own new normal.
It will likely take a few Q’s to sort itself out, but with increasing
inventory and declining sales volume, the dubious million-dollar club’s
last remaining member may also soon be revoking its membership.
Will the covid-driven lure to leave the urban areas of the Region still
pull strong as prices in smaller communities now sit at par or above
those in the cities? Time will tell, but most certainly some of the
Townships will be far less volatile than others. Indisputable country
charm and escaping the chaos of city-life will still hold an allure. The
question is, what price are Buyers still willing to pay for it?
While we make every effort to obtain as much data as possible from a variety of sources, sometimes there just isn't enough of it to report statistically significant figures.
The Townships can often have very low totals over any individual quarter, so although we do our best to report the facts, sometimes the facts are a little light on substance.
Sales to New Listing Ratio
A real estate market never heads in just one direction. Several key factors can drastically influence the direction of the market including mortgage interest rates, employment levels/growth, investment growth, immigration and development. Separately, or in conjunction with one another, they can influence whether we are it is a buyer’s market or a seller’s market.
A buyer’s market exists when there significantly more homes for sale than there are buyers. The typical end result is a drop in median sale prices over time as homeowners adjust their expectations to the current market conditions.
A seller's market typically exists when interest rates are low are there are plenty of qualified buyers and not as many homes for sale. Buyers must react quickly and often face multiple offer situations. Prices generally rise under these circumstances.
To appropriately measure market activity, TrilliumWest uses the Sales/New Listing Ratio as much as possible. The primary purpose of this ratio is to measure the balance between market supply and demand.
- a ratio between .40-.60 is considered a seller's market
- a ratio of less than .40 is considered to be a buyer's market
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