Guelph Real Estate Market Update August 2nd, 2017

August 2, 2017

Here is an update on the Guelph Real Estate Market as of the end of July:

We have come through one of the wildest markets in my career, and the market is settling back down to a fairly balanced market. There are currently 296 active listings in Guelph, 30 of which have offers on them. That is almost three times the number of listings we had at the beginning of April – and approximately 2 months supply, as opposed to half a months supply, only four months ago.

There were 160 sales this July, down significantly from the 230 sales in July last year, and 231 the year before. The 3 month moving average moved to $514,880 – down 5.68% from the peak in May but still up 22% from the $416,848 in July 2016.

Conditional offers are the norm again, and Buyers are negotiating with Sellers; 38.1% of all the sales this July were at or over asking compared to 84.7% in April. The average sale price in July was 99.68% of asking compared to 109% in April.

The Real Estate is always changing and I will keep you posted! Please do not hesitate to call me if you have any questions or are interested in selling, buying, or both! I always look forward to hearing from you!

Have a great summer!