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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Archives of past reports are at the bottom of this page. Consume wisely, friends.
City of Cambridge
Looking to get into the market? Cambridge has a lot to offer. Cambridge continues to be one of the most affordable places to live in the Region with a median detached sales price of $475,000
for Q3 down just 2.1% from Q2 2018 with the Preston area of Cambridge leading the way at a very reasonable $439,450 for the median detached home.
North Galt saw the biggest gains in Y/Y with a 16.2% increase in the median sale price largely due to its proximity to 401 for commuters, the many amenities the area has to offer and its reputation for good schools.
Don’t know the area? Curious about neighbourhood amenities, features and schools? Ask your TW pro.
City of Guelph
Midtown? What’s this all about TW?
For the first time, we have divided up South Guelph and created the new region of ‘Midtown’. The goal was to further dive into the data and spot the anomalies between the serious changes in style between more established Midtown and newer-built South Guelph neighbourhoods.
The data produced some interesting results. South Guelph has led the way over the past year with an enormous 20.6% Y/Y increase in median sale price. Midtown actually saw a decline over the same period of time.
An interesting fact here, but the first time in history the median detached sale price in every region of the city is now in excess of $500,000. The new home and resale supply shortages we have been experiencing in the city for years have left their mark.
Cities of Kitchener & Waterloo
The general belief in the public and the media is that the market has cooled from the crazy heights of 2017. But if we look at the actual numbers in KW as a whole it paints a different picture.
Median detached sale price for Y/Y we are up 13.6%, volume of sales were down a mere 3.8% Y/Y and it actually took 2 days less to sell the average home in the third quarter of 2018 than it did
in 2017. With a Sales to New Ratio of 0.66 we are still firmly in a Seller’s market. This in the danger with following media outlets that use national or regional sales (GTA) data and try to apply them to the real estate industry as a whole.
Real estate is inherently local and therefore we must focus on the local level (provided sample size is adequate) to get good statistical information. All the more reason to have a knowledgeable and connected TrilliumWest pro on your side.
Everyone wants the best of both worlds-small town feel but close to the city. The Townships saw tremendous uptick in median detached sale price with a 17.2% Y/Y increase and 34.6% Q/Q increase.
There are some definite hot areas. For example, Woolwich Township and Centre Wellington sales to new ratios are still above 0.70 but most other areas are moving towards a more balanced market or even approaching a buyer’s market. In some instances, inventory has been climbing as people look to cash in on the hot market of the last year.
Rural properties come with their own unique set of intricacies, not only with the property themselves but with the market in general. That’s why is so important to have the right TW
professional on your team.
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