Guelph Home Sales Down in July

According to statistics provided by the MLS^® System of the Guelph and District Association of REALTORS^®, home sales numbered 222 units in July 2017. This was down 31.3 per cent from July of 2016 and marked the lowest July level since 2010.

On a year-to-date basis, home sales totalled 2,126 units over the first seven months of the year. That was a 5.2% decline from the record for the period in 2016.

“Homes sales continued to slow in July as uncertainty resulting from recently announced changes to housing policy has moved many prospective home buyers to the sidelines,” said Kim Hannah, President of the Guelph and District Association of REALTORS^®. “Along with an increase in new listings in recent months, inventories are up from all-time lows; however, the big picture on supply is that it is still sitting at the second lowest level on record. That said, with sales down and listings up, price growth has started to slow for ground level properties.”

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 23% in July 2017 compared to the same month in 2016. This was a slightly slower rate of growth compared to the previous three months.

Single-family home prices were up 23.7%. By comparison, townhouse prices rose 20.2% from last July and apartment unit prices climbed 23.3% compared to a year earlier.

Read the FULL ARTICLE