Guelph Home Sales Down From Last Year’s Record Levels In June 2017
According to statistics provided by the MLS® System of the Guelph and District Association of REALTORS®, home sales numbered 325 units in June 2017. This was down 17.1 per cent from the June record set a year ago.
On a year-to-date basis, home sales totalled 1,906 units over the first six months of the year. This was the second best first half of any year on record, just 14 sales behind 2016.
“Home sales have cooled from all-time record levels and as of June were running closer to historical norms,” said Kim Hannah, President of the Guelph and District Association of REALTORS®. “That said, with supply having just barely started to pick up from all-time lows the balance between supply and demand still favours sellers, just not as by as much as it did a few months ago.”
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 25.4% in June 2017 compared to the same month in 2016.
Single-family home prices were up 27.6%. By comparison, townhouse prices rose 23.2% from last June and apartment unit prices climbed 14.5% compared to a year earlier.
The average price of homes sold in June 2017 rose 18.2% from levels in June 2016. The year-to-date average price rose 29.3% from the first half of 2016.
