GUELPH REAL ESTATE MARKET SEE STEADY INCREASES AGAIN IN NOVEMBER 2019
GUELPH, ON (December 8, 2019) –– 166 residential properties sold through the Multiple Listing System (MLS® System) in the City of Guelph in November, an increase of 6.4 per cent compared to the same month last year.
Home sales in November included 92 single-family detached (up 13.6 per cent), and 33 condominium apartments (up 50 per cent). Sales also included 36 townhouses (down 16.3 per cent) and 5 semi-detached homes (down 50 per cent).
The average sale price of all residential properties sold in November increased by 7.4 per cent to $541,480 compared to November 2018. Detached homes sold for an average price of $616,524 an increase of 3.6 per cent compared to November of last year. During this same period, the average sale price for an apartment-style condominium was $403,825 for an increase of 28.1 per cent. Townhomes and semis sold for an average of $486,940 (up 9.3 per cent) and $461,860 (up 5.7 per cent) respectively.
The median price of all residential properties sold last month increased 7.1 per cent to $520,000 and the median price of a detached home during the same period increased by 0.9 per cent to $569,950.
The average days it took to sell a home in November was 32 days, which is three day more than it took in November 2018.
REALTORS® listed 156 residential properties in the City of Guelph last month, a decrease of 10.3 per cent compared to November of 2018. Months Supply of Homes for sale stood at 1.1 months in November, which is 21.4 percent lower than the same period last year.
“People moving to Guelph for an exceptional quality of life, and the strong economy is continuing to be a significant factor for our local market,” says Adam Stewart with Chestnut Park West. “Prices are increasing because homebuyer demand is exceeding the number of homes on the market—which is expected will continue throughout 2020.”
Stewart recommends home owners and sellers consult with a REALTOR® to help them navigate this highly competitive and complex real estate market to make to most informed real estate decisions.
GUELPH Historical Sales by Property Type
Months Supply of Homes for Sale in Guelph
Average GUELPH Sales Price – By Property Type
Average Days on Market in GUELPH
The information provided in this feature has been sourced by Adam Stewart, Real Estate Sales Representative with Chestnut Park Realty Southwestern Ontario Ltd. Brokerage. The information has been drawn from sources deemed to be reliable, but the accuracy and completeness of the information is not guaranteed. In providing this information, neither Adam Stewart, nor Chestnut Park Realty Southwestern Ontario Ltd. Brokerage assumes any responsibility or liability.
Adam Stewart is a Real Estate Sales Representative with Chestnut Park Realty Southwestern Ontario Ltd. Brokerage serving Guelph, Kitchener-Waterloo, Cambridge, Wellington County and Southwestern Ontario markets. Adam can be reached at 519-265-2602, online at www.adamstewart.ca, or by email at adam.stewart@chestnutparkwest.com.