Guelph Home Sales Just Miss Setting New February Record

According to statistics provided by the MLS® System of the Guelph and District Association of REALTORS®, home sales numbered 271 units in February 2015. This was up 16.8 per cent from February in 2014.

Sales of all types of properties in the Guelph region numbered 282 units in February, up 18 per cent from a year earlier.

“February home sales stood well above all other months of February on record save for 2012, and they only missed matching that by four sales so activity is running very strong right now,” said Jeff Morley, President of the Guelph and District Association of REALTORS®. “New listings have struggled to keep pace with sales, and that continues to fuel prices.”

The average price of homes sold in February 2015 was $377,524, up 14.1 per cent from levels in February 2014.

The dollar volume of residential sales in February 2015 was $102.3 million, rising 33.3 per cent from the same month in 2014, and setting a February record.

The total value of all properties sold in February 2015 was $107.5 million, an increase of 36.3 per cent on a year-over-year basis.

New residential listings numbered 385 units in February, up 10.6 per cent on a year-over-year basis. There were 577 active residential listings on the Association’s MLS® System at the end of February 2015, down 0.5 per cent from a year earlier.

There were 2.1 months of inventory at the end of February 2015, down from 2.5 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.