Guelph Home Sales Edge Higher in January
Sales of all types of properties in the Guelph region numbered 176 units in January, edging up one sale from a year earlier.
“January home sales have with few exceptions come in between 160 and 170 for more than a decade, so this January was to the higher side of that range but broadly in line with what we’ve seen since about the year 2002,” said Jeff Morley, President of the Guelph and District Association of REALTORS®. “That said, January’s story of stability does represent a pullback from near-record levels of activity over much of last year.”
The average price of homes sold in January 2015 was $356,442, up 1.3 per cent from levels in January 2014.
The dollar volume of residential sales in January 2015 was $61.3 million, rising five per cent from the same month in 2014.
The total value of all properties sold in January 2015 was $62.4 million, an increase of 3.7 per cent on a year-over-year basis.
New residential listings numbered 400 units in January, up 5.3 per cent on a year-over-year basis. There were 516 active residential listings on the Association’s MLS® System at the end of January 2015, down six per cent from a year earlier.
There were 3.0 months of inventory at the end of January 2015, down from 3.3 months a year earlier and below the long-run average for this time of the year in the Guelph region. The number of months of inventory is the number of months it would take to sell current inventories at the current rate of sales activity.
The Guelph and District Association of REALTORS® represents more than 450 REALTORS® in Guelph and surrounding communities like Fergus and Elora. Additional information can be found on the Association’s web site at www.GDAR.ca.