Latest Home Numbers for Guelph, It’s a Sellers’ Market

Karen KesselAdvice, Downtown Guelph, Planet Realty, Real Estate News

Nothing like numbers rolling in on a Friday- it gives me a chance to provide some weekend food for thought.

It’s hardly shocking these days to see Guelph put up strong numbers in the real estate market. The latest numbers in from the Guelph and District Association of Realtors are no exception. Once again, they paint a formidable image of the strength of Guelph’s housing market, with year-over-year growth across the board.

Sales to-date, as of August 5th, totalled 1297 units within the city. That’s a gain of 69 units, or almost 6 percent from the same period in 2011! And not only are there more homes swapping hands, they’re also selling for more money. Prices have risen almost 5% over the first 7 months of last year. Impressively, the average sale price has risen from $299,500 last year to $313,967. It suggests that not only is the market in Guelph healthy, but it’s also not suffering from the potential bubbling seen elsewhere, where outrageous year-over-year growth seems to be the norm.

Over the past two months, the action on homes that have been listed has been swift as well. Sellers that have elected to list in the typically-slow summer season, have been pleasantly rewarded. 85% of the listings from two months ago have sold, with the average home being on the market for only 29 days! An influx of people to the Guelph area can likely be attributed to the increased demand, suggesting that it may be a great time to consider a move. Don’t expect new listings to be on the market too long if these trends continue!

Enjoy your weekend everyone, see you Monday!