Hello, here is a quick update on the Guelph real estate market:
There were 142 Sales in February 2018, down 30% from the 203 sales in February 2017, but almost the same as February 2013 & 2014 sales. The sales ranged from $177,000 to $1,148,000 with the 3 month moving average coming in at $479,157 for the City of Guelph.
The market has certainly slowed down compared to year ago; prices have come down approximately 12.5% from the peak they reached in May 2017, but the February average price is still up just over 5% from the average a year earlier. The average has been fluctuating between roughly $474,000 and $490,000 since August 2017. The market is quite strong with the average selling price coming in at 100.1% of asking; 52.81% of the sales in February were at or over the asking price. On the inventory side; there are 222 active listings in Guelph ranging from $229,900 to $1,500,000. The average asking price is $550,970, with an average time of 32 days on the market.
The arrival of March traditionally brings plenty of new real estate activity to markets all across the country. This is the time of year families are most likely to purchase a new property, to ensure an easier relocation during the summer. As a result, almost every community will see an influx of buyers looking for new homes.
If you are wondering about taking advantage of this market, or happen to know someone who is, give me a call; I can help navigate this year’s spring market, and ensure any purchase and/or sale goes smoothly. I always look forward to your calls.