Ontario

Kitchener-Cambridge-Waterloo Land Market Report 2025 — Prices, Cap Rates & Trends

In the Kitchener-Cambridge-Waterloo land market, the median recorded sale price is $4,685,064, across 109 recorded transactions, between 2021-09-27 to 2025-12-15.

Analyze a deal

$4.7M

Median sale price

109

Recorded transactions

-19.4%

YoY change in median

Price distribution

Where Kitchener-Cambridge-Waterloo land sale prices sat across 109 recorded transactions.

Median sale price by year

5 of 5 years in the window carried enough recorded sales to plot a median for Kitchener-Cambridge-Waterloo land.

Recorded transaction volume by year

Year	Recorded transactions
2021	13
2022	30
2023	22
2024	29
2025	15

This market vs. Ontario overall

Metric	Kitchener-Cambridge-Waterloo	Ontario
Median sale price	$4,685,064	$2,194,500
25th percentile	$2,600,000	$1,325,000
75th percentile	$10,300,000	$4,750,000
Recorded transactions	109	29,749
Year-over-year change	-19.4%	-5.5%

Asset classes in Kitchener-Cambridge-Waterloo

Asset class	Median price	Transactions
Industrial	$4M	242
Land	$4.7M	109
Multifamily	$2.5M	383
Office	$2.5M	118
Other	$2.2M	226
Retail	$2M	158

Land across Ontario markets

Market	Median price	Transactions
Barrie	$4.4M	95
Belleville	$3.7M	14
Brantford	$4.8M	78
Greater Sudbury	$1.9M	17
Guelph	$4M	52
Hamilton	$3.9M	139
Kingston	$2.2M	24
Kitchener-Cambridge-Waterloo	$4.7M	109
London	$3.3M	94
Oshawa	$2.8M	75
Ottawa	$3.5M	166
Peterborough	$1.6M	13
St. Catharines-Niagara	$2.3M	128
Thunder Bay	$2.8M	6
Toronto	$8.5M	617
Windsor	$1.7M	104

Rental market context

The CMHC Rental Market Survey reports a 4.1% purpose-built rental vacancy rate for Kitchener-Cambridge-Waterloo (2025). This is residential rental context, not a commercial metric.

Recent recorded sales

Month	Area	Price band	Type
2025-12	Waterloo, ON	$5.0M–$6.0M	Land
2025-12	Cambridge, ON	$4.5M–$5.0M	Land
2025-12	Cambridge, ON	$1.0M–$1.5M	Land

Municipality, month and price band only.

Common questions

What is the median land sale price in Kitchener-Cambridge-Waterloo?

$4,685,064, across 109 recorded transactions in our dataset.

Are Kitchener-Cambridge-Waterloo land prices rising or falling?

The median recorded sale price changed -19.4% year over year in the most recent full comparison.

Methodology

This page draws on 109 recorded commercial transactions in Kitchener-Cambridge-Waterloo between 2021-09-27 and 2025-12-15, from the EVALUAITE Market Intelligence dataset. A city and asset class is published only once it carries at least 50 recorded transactions.

Too few of these sales reported a cap rate to publish a range, so none is shown. All 5 years in the window carried enough sales to plot a median. The year-over-year comparison had enough sales on both sides to compute. CMHC rental context is available for this market.

Prepared by the EVALUAITE Market Intelligence team.