Guelph Home Sales in Line With January Average
According to statistics provided by the MLS® System of the Guelph and District Association of REALTORS®, home sales numbered 166 units in January 2014. This was a decrease of 12 per cent from the same month last year.
Sales of all types of properties in the Guelph region numbered 175 units in January, down 13 per cent from year-ago levels.
“The year-over-year decline in home sales is really a reflection of a temporary jump in activity in January last year,” said Kimberley McKenzie, President of the Guelph and District Association of REALTORS®. “Somewhere in the 160 range has been pretty par for the course for January sales in the region in most of the past decade, and this year was no exception. Meanwhile, supply conditions continue to favour sellers, and the average sale price continues to push higher.”
The average price of homes sold in January 2014 was $351,860, up ten per cent from levels in January 2013.
The residential dollar volume of sales in January 2014 was $58.4 million, down three per cent from the same month last year. The total value of all properties sold in January 2014 was $60.2 million, down eight per cent on a year-over-year basis.
New residential listings numbered 380 units in January, down 10 per cent on a year-over-year basis. There were 549 active residential listings on the Association’s MLS® System at the end of January 2014, edging down one per cent from a year earlier.
There were 3.3 months of inventory at the end of January 2014, up from 2.9 months a year earlier and well 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.