Hello, I hope you are having a great summer! Here is a quick market update on the Guelph Real Estate Market.
There were 207 sales in July, up significantly from the 160 sales in July last year. Year to date sales are still down 17.65% from last year. The 3 month moving average increased slightly to $514,762 at the end of July, influenced by the high average sale prices in May. The monthly average is trending down – the July average was $508,623. The sale to list price was 98.89% and the percentage of homes sold, at or over asking, was 37.2% – both down from the previous month.
On the listing side, there are currently 300 active listings with an average asking price of $598,318, just about $90,000 more than the average sale price – which is also an indication of where the inventory is, mostly in the higher price ranges. It is still very much a Sellers market in everything under $500,000.
Please do not hesitate to call me if you have any questions.
Your referrals are always appreciated! In the meantime – have a great summer.