Guelph Home Sales Improving

Guelph home sales improving as more new supply comes on stream.

According to statistics provided by the MLS® System of the Guelph and District Association of REALTORS®, home sales numbered 311 units in April 2019. This was up 5.1% (15 sales) from April 2018 and was very close to the 10-year April average.

On a year-to-date basis, home sales totalled 890 units over the first four months of the year. Up 1.7% (15 sales) from the same period in 2018.

“While activity only just climbed back to average levels in April, it is improving,” said Christianne Child, President of the Guelph and District Association of REALTORS®. “There was a sizeable jump in new supply in April, so it is possible that there is more demand out there that recent sales numbers would suggest – buyers that were waiting for those spring listings to come onto the market.”

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 $541,700 in April 2019, up 5.1% compared to April 2018.

The benchmark price for single-family homes was $560,700, rising 5.3% on a year-over-year basis in April. By comparison, the benchmark price for townhouse/row units was $391,200, up 3.4% compared to a year earlier while the benchmark apartment price was $328,800, up 6%.

The average price of homes sold in April 2019 was $542,671, edging up just 1.5% from April 2018.

The more comprehensive year-to-date average price was $543,974, climbing 4.5% from the first four months of 2018.

The dollar value of all residential home sales in April 2019 was $168.8 million, up 6.7% from the same month in 2018.

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