Guelph Home Sales At Near-Record Levels In May 2017

According to statistics provided by the MLS® System of the Guelph and District Association of REALTORS®, home sales numbered 389 units in May 2017. This was up just 0.3% (one sale) from last May.

On a year-to-date basis, home sales totalled 1,579 units over the first five months of the year. This was a record for the period, up 3.3% from 2016.

“Home sales remain historically very strong, with the May 2017 sales figure standing above almost every other month in history, and just five sales below the all-time peak reached two years ago,” said Kim Hannah, President of the Guelph and District Association of REALTORS®. “That said, May sales saw a bit of a moderation from a few months ago on a seasonally adjusted basis, which aligns with trends coming out of places like Toronto and Hamilton in the wake of recently announced changes to Ontario housing policy. If past policy changes are a guide, it may be that some buyers have moved to the sidelines for a time to see how those policy changes play out in the market. Time will tell.”

The MLS® Home Price Index (HPI), tracks price trends far more accurately than is possible using average or median price measures. The overall MLS® HPI for Guelph and District rose 26.4% in May 2017 compared to the same month in 2016.

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