Guelph Home Sales Hold Steady in May
According to statistics provided by the MLS® System of the Guelph and District Association of REALTORS®, home sales numbered 332 units in May 2013. This was a decrease of just two sales from the previous May.
Sales of all types of properties in the Guelph region numbered 347 units in May, edging down two per cent from year-ago levels.
“Home sales continue to run at very strong levels, and that’s resulting in tight market conditions and ongoing upward pressure on prices.” said Matthew Bennett-Monty, President of the Guelph and District Association of REALTORS®. “To give you an idea of how strong the market was in May, activity stood just nine sales below the all-time record for the month set back in 2007, and the dollar value of sales through the Association’s MLS® System shattered the previous monthly record set last May by almost $15 million.”
The average price of homes sold in May 2013 was a record $376,941, jumping 14 per cent from levels in May 2012.
The residential dollar volume of sales in May 2013 was a record $125.1 million, up 13 per cent from the same month last year.
The total value of all properties sold in May 2013 was a record $136.6 million, up 16 per cent on a year-over-year basis.
New residential listings numbered 540 units in May, up eight per cent on a year-over-year basis.
There were 754 active residential listings on the Association’s MLS® System at the end of May 2013, rising seven per cent from a year earlier.
There were 2.3 months of inventory at the end of May 2013. This was up slightly from 2.1 months at the same time last year but remains slightly below the long-run average for this time of 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.