Guelph Home Sales Continue To Climb in September
Guelph home sales continue to climb in September. According to statistics provided by the MLS® System of the Guelph and District Association of REALTORS®, home sales numbered 251 units in September 2019. This was up 6.8% from September 2018 and stood above September 2017 as well.
On a year-to-date basis, home sales totaled 2,409 units over the first nine months of the year, up 6.3% from the same period in 2018.
“Home sales picked up nicely over the spring and summer alongside an influx of much needed new supply, and that trend continued in September with activity hitting the highest level of the post-stress test period,” said Christianne Child, President of the Guelph and District Association of REALTORS®. “While inventories are no longer at the extreme lows seen in late 2016 and early 2017, they are nonetheless still below average and the market is still tilted in favour of sellers, which is why prices have continued to move higher. Various price measures are all pointing to a gain in the 6-7% range this year.”
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 composite benchmark price for Guelph and District was $554,800, up 6.2% in September 2019 compared to September 2018. The benchmark price for single-family homes was $569,900, climbing 5.9% on a year-over-year basis in September.
By comparison, the benchmark price for townhouse/row units was $402,000, an increase of 6.2% compared to a year earlier while the benchmark apartment price was $352,300, up 8.3%.
The average price of homes sold in September 2019 was $591,159, up 7.7% from September 2018. The more comprehensive year-to-date average price was $561,835, rising 6.4% from the first nine months of 2018.