It looks like we have made it through another Winter and Spring is here! Here is a quick summary of what’s been happening in the Guelph Real estate Market so far this year.
The Month of March accounted for 192 sales at an average price of $512,623 and the average sale price was 99.64% of the asking price. In addition, 39.58% of the sales were either at or over the asking price.
Looking at the bigger picture, the first quarter of the year had a total of 450 sales, exactly the same as last year and down from the 641 & 567 in 2017 & 2016 respectively. The average prices however show an interesting picture – as of the end of March, the 3 month moving average came in at $507,521. Last year it sat at $489,798 and 2017 & 2016 were $506,135 & $383,910 respectively. Prices have held even while sales have slowed down.
The average sale to list percentage is down slightly from last year by just about 1% – but the supply of homes is currently at 285 in Guelph and with 192 sales in March – that gives only about a 45 day supply of homes – with the spring market just beginning, I think it will be very much a Sellers market for the next couple months.
Please don’t hesitate to call me if I can be of any assistance to you or your friends or if you have any questions! I always look forward to hearing from you!