The final week of August brought an interesting shift to the Kitchener, Waterloo, Woolwich and Wilmot real estate market. Buyers have fewer active listings to choose from than they did just one week ago, while pending sales moved in the opposite direction.
For the week ending August 31, 2026, there were 1,092 active resale listings, down from 1,174 the previous week. That’s a decline of roughly 7% in just one week.
At the same time, pending residential sales increased from 82 to 87.
So while inventory tightened, buyers were still making moves. 🏡
The Numbers Behind the Market
Here’s how active inventory looked at the end of the week:
Single detached: 535 active listings, down from 563
Semi-detached: 37, down from 38
Freehold townhomes: 52, down from 57
Condo townhomes: 172, unchanged
Condo apartments: 296, down substantially from 342
The condo apartment category experienced the largest weekly change, with inventory dropping by approximately 13.5%.
But inventory alone doesn’t tell the whole story.
Homes Are Still Selling Very Close to Asking Price
The average sold-price-to-list-price ratio was 98.54%, compared with 98.62% the previous week.
That tiny movement matters less than the bigger picture: collectively, properties that sold were still achieving very close to their asking prices.
However, that doesn’t mean every seller is receiving multiple offers or selling above list.
Quite the opposite.
Of this week’s reported sales:
73.6% sold below list price.
21.8% sold over list price.
4.6% sold at list price.
That is an important distinction for anyone thinking about selling.
Pricing a home artificially low in the hope of creating a bidding war is not automatically a winning strategy in today's market. Buyers have become more selective, and thoughtful pricing from day one matters.
What About Multiple Offers?
They haven't disappeared.
There were 19 properties sold over asking price this week, compared with 24 the previous week.
But the size of those over-asking sales is also worth watching.
Of the homes selling above list price, most sold for less than $100,000 above asking, and there were no reported sales $100,000 or more above list this week.
The market can absolutely still reward an exceptional property with strong presentation, location and pricing. But we're not in a market where sellers should simply assume a bidding war will do the heavy lifting.
A Different Market Depending on What You're Buying
One of the most useful numbers in this week's report is months of inventory.
Single-detached homes sat at approximately 3.3 months of inventory, while condo apartments were considerably higher at 9 months.
That's a pretty dramatic difference.
It also illustrates why broad headlines such as "It's a buyer's market" or "The market is heating up" rarely tell you enough.
Your market depends on what you're buying or selling, where it is, its price range and what you're competing against.
What This Means for Waterloo Region Buyers
For buyers, there is opportunity here.
You generally have more negotiating room than buyers experienced during the frenzy of previous markets, particularly in segments carrying higher inventory.
That can mean time to complete proper due diligence, compare properties and negotiate price or terms rather than feeling pressured to simply throw everything at an offer and hope for the best.
But good homes can still attract attention quickly.
The goal isn't necessarily to wait for a "perfect" market. It's to understand your particular piece of the market and build your strategy around it.
What This Means for Sellers
For sellers, this week's numbers send a fairly clear message:
Price matters.
With nearly three-quarters of reported sales occurring below asking price, launching too high and planning to "test the market" can work against you.
Buyers can see competing inventory, recent sales and price reductions. A strong launch strategy needs to consider all three.
Presentation, preparation, marketing and pricing need to work together from day one.
Thinking About Making a Move?
Whether you're wondering what your current home could sell for, trying to decide whether now is the right time to buy, or simply want to understand what's happening in your neighbourhood and price range, I'm happy to dig into the numbers with you.
Because the headline tells us what's happening across the market.
Your numbers tell us what your next move should be.
Market statistics based on the Royal LePage Wolle Realty Weekly Market Update for Kitchener/Waterloo/Woolwich/Wilmot, week ending August 31, 2026. Market conditions vary by property type, location and price range.
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