Guelph and Area December Home Sales Reach Lowest Annual Totals in 20 Years

 In Real Estate Market News

The number of homes sold through the MLS® System of the Guelph and District Association of REALTORS® totaled 135 units in December 2023. This was a decrease of 7.5% (11 sales) from December 2022.

Home sales were 24.9% below the five-year average and 30.3% below the 10-year average for the month of December.

On an annual basis, home sales totaled 3,344 units over the course of 2023. This was a large decline of 10.6% from 2022.

“Annual sales activity dropped to the lowest level since 2003 as higher interest rates put a damper on the housing market in 2023,” said Dillon Fraser, President of the Guelph and District Association of REALTORS®. “Our local market is well-poised to make a turnaround when buyers regain more confidence and decide to wade back in, something many housing markets were beginning to see a glimmer of in December. With an ample supply of available listings and sellers remaining very active we are hoping to see a pickup in the spring as interest rates remain on hold for longer.”

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