We hope this email finds you well as we kick off 2025!
The Waterloo Region real estate market wrapped up 2024 with steady growth and a strong December, fueled by lower interest rates that reignited buyer activity.
Looking ahead, 2025 is filled with opportunities. With interest rates expected to drop further and new policies making homeownership more accessible, the market is set for positive momentum. Trudeau’s resignation signals a pivotal moment for Canada’s housing market—a chance to reassess priorities, address gaps, and build on programs to create meaningful opportunities for buyers and sellers alike.
We anticipate a balanced market this year, with detached homes continuing to lead and inventory adjustments opening doors for buyers and sellers. As always, we’re here to guide you through these changes and help you achieve your real estate goals.
Whether you’re planning a move, exploring options, or staying informed, now is a great time to prepare for what’s ahead. Here’s to making 2025 your most successful year yet!
2024 Waterloo Region Annual Home Sales Show Slight Growth – December Sees Significant Boost:
In 2024, 6,777 homes were sold through the Multiple Listing Service (MLS) System of the Cornerstone Association of REALTORS (Cornerstone), marking a 2.8% increase compared to 2023. However, sales remained 18.9% below the previous five-year average.
In December, 334 homes were sold, up 14.4% from December 2023 but 9.9% below the five-year average for the month.
While 2024 home sales remained below long-term averages, the final quarter saw a boost in activity, driven by lower interest rates.
Total residential sales in December included:
Detached homes: 189 sold in December, up 8% from last year, with an average price of $898,204—a 6% year-over-year increase and 4% higher than November 2024. For 2024 overall, 4,100 detached homes were sold, up 5.5%, with an average price of $910,901, down 0.8% compared to 2023.
Townhouses: 83 sold in December, up 48.2% year-over-year, with an average price of $630,676—a 1.7% increase from December 2023 and 2.7% higher than November 2024. In 2024, 1,368 townhouses were sold, up 2.6%, with an average price of $638,385, down 2.3% from 2023.
Condos: 41 sold in December, up 10.8% year-over-year, with an average price of $475,006—down 3.7% from December 2023 but 5.5% higher than November 2024. For 2024, 821 condos were sold, down 8.8%, with an average price of $472,801, a 2.0% decrease from 2023.
Semi-detached homes: 21 sold in December, down 12.5% year-over-year, with an average price of $644,786—up 5.1% from December 2023 and 0.2% higher than November 2024. For 2024, 477 semi-detached homes were sold, up 5.5%, with an average price of $662,859, down 2.1% from 2023.
In December, the average sale price for all residential properties in Waterloo Region was $763,840, up 3.3% year-over-year and 1.4% from November 2024. Year-to-date, the average price was $784,343, down 0.3% compared to 2023.
Looking ahead, 2025 is shaping up to be an exciting year. Interest rates are expected to drop even further, with the next announcement at the end of January, potentially hitting 2%–3% by mid-year, which will make it easier for buyers to enter the market.
Plus, new policies like 30-year amortizations and higher insured mortgage caps are giving first-time buyers and those looking to upsize a real boost.
Detached homes will likely lead the way again, while condos may take a little longer to bounce back. Overall, we’ll probably see a balanced market with hints of a seller's market in some areas as inventory levels adjust.
But don’t expect the crazy price jumps of 2021 and early 2022. Our advice? Buy within your means and think long-term. The best time to act is when it works for you—not when you’re trying to time the market.
And with Trudeau’s resignation, we’re at a turning point for Canada’s housing market—a chance to rethink, reassess priorities, and/or build on programs to address gaps that will hopefully create better opportunities for buyers and sellers.
If you’re curious about what these changes mean for your plans or want to know what your home is worth, reach out—we’re always here to help!
Becky Deutschmann and Drew Dickinson
becky@elitere.ca | drew@elitere.ca
519-841-6511 | 519-500-2805
Home Selling Resources
Download our Home Staging Guide or 30 Tips to Sell Your Home Fast and for More Money to learn strategies that make a difference. Click below to get your copy today!
A new year means fresh starts, making it the perfect time to consider selling your home. A little preparation now can help you attract serious buyers and maximize your home's value. Here's how to get your home market-ready with a New Year declutter and refresh.
1. Declutter Your Entire Home: A clean, organized home feels bigger and makes it easier for buyers to picture themselves living there. Go room by room to keep things manageable:
Kitchen: Clear off counters, organize the pantry, and donate extra kitchen tools you don't use.
Living Areas: Remove personal photos, excess decor, and any bulky furniture to create more open space.
Bedrooms: Simplify nightstands, keep closets tidy, and reduce personal items.
Bathrooms: Clear the counters, put away toiletries, and keep essentials neatly stored.
Pro Tip: Sort items into 'keep,' 'donate,' and 'discard' piles to stay organized and avoid re-cluttering.
2. Deep Clean Your Home: After decluttering, a deep clean makes a big difference. Focus on areas buyers will notice most:
Wipe down baseboards, windows, and light fixtures
Clean carpets, floors, and grout lines
Scrub kitchen appliances, cabinets, and drawers
If you're short on time, hiring professional cleaners is a good direction to go in! It'll ensure your home is spotless, leaving a positive impression on potential buyers.
3. Tackle Minor Repairs and Upgrades: Small fixes can have a big impact when it comes to selling your home. Pay attention to:
Patching small holes and touching up paint
Fixing leaky faucets, loose handles, and squeaky doors
Updating outdated fixtures for a more modern feel
These quick updates can help your home feel well-maintained and move-in ready for potential buyers.
Ready to make 2025 the year you sell your home? Start with these simple steps to make your property stand out and attract serious buyers. With a little decluttering, cleaning, and attention to detail, you'll be well on your way to securing the best offer.
If you’ve ever wondered why some homes fly off the market while others linger for months, you're not alone. It’s not magic or luck—it's all about strategy. Whether you're planning to sell your home or just curious about what makes a property stand out, here’s what you need to know to get your home noticed by serious buyers.
1. Pricing is Everything:
The number one factor that determines how quickly a home sells is pricing. Overpricing your property can actually scare buyers away, while underpricing can leave money on the table. A well-priced home will attract more interest and could even lead to multiple offers. The key is to work with an experienced agent who knows the ins and outs of your local market. They'll help you find that perfect price point that attracts buyers while maximizing your return.
2. Marketing Makes or Breaks It:
Gone are the days when a simple “for sale” sign in the yard was enough. Today, most buyers are searching online, which means your home needs to be visible where they’re looking. High-quality photos, video tours, and targeted social media ads are crucial for getting your home in front of the right audience. The more eyes you can get on your listing, the higher the chances of generating interest—and ultimately selling faster.
3. Condition Counts:
Buyers are looking for move-in-ready homes. If your property needs a lot of work, it could deter potential buyers. Small updates, like fresh paint, modern lighting fixtures, or updated hardware, can make a huge difference. It’s also important to address any deferred maintenance issues, such as leaky faucets or squeaky doors. A well-maintained home sends the message that it has been cared for, making it more appealing to buyers.
The Takeaway: Selling a Home is All About Strategy.
Selling your home successfully isn’t about luck—it’s about strategy. By focusing on key areas like pricing, marketing, and home condition, you can position your property to sell quickly and for the best price possible. If you’re ready to make your home stand out, contact us today and let's get started on creating a customized plan to sell your home for top dollar!
While spring and summer are typically considered the peak seasons for real estate, selling in the winter can offer unique advantages you might not have considered. Here are three compelling reasons why winter could actually be the perfect time to list your home:
1. Less Competition:
With many sellers waiting for the warmer months, the winter market tends to be quieter, meaning fewer homes are listed. This works in your favour, as your property will have more visibility and could attract more attention from serious buyers. In a less saturated market, your home has a better chance of standing out, especially if it’s priced right and in good condition. Buyers have fewer choices, making them more likely to consider your home seriously.
2. Motivated Buyers:
Winter buyers are often in a more urgent position. Whether they're relocating for a new job, looking to settle before the new year, or trying to close before tax season, buyers in the winter tend to be more focused and motivated. These are individuals who aren’t just casually browsing, but actively searching for the right property to meet their immediate needs. This means you're more likely to receive offers from buyers who are ready to make a deal and are less likely to waste time with endless showings.
3. Faster Closings:
With fewer buyers in the market, the selling process can move quicker in the winter. Buyers who are interested may be more responsive to offers, and without as much competition, negotiations can proceed smoothly. Additionally, many buyers who are shopping in the winter are keen to close quickly, meaning you could see a faster turnaround from listing to closing. If you're looking to move fast, winter can offer the perfect opportunity for a quicker, less stressful sale.
While selling in the winter comes with its own challenges, the benefits can outweigh the drawbacks, especially when you’re strategically prepared. With less competition, motivated buyers, and quicker closings, the winter months may just be the ideal time to make a move in real estate.
