Guelph Home Sales Moderate in December, But Still Annual Record for 2015
According to statistics provided by the MLS® System of the Guelph and District Association of REALTORS®, home sales numbered 134 units in December 2015. This was down 12.4 per cent from December 2014. It is possible this decline simply reflects a lack of supply on the market.
Sales of all types of properties in the Guelph region numbered 148 units in December, down 13.5 per cent from a year earlier.
On an annual basis home sales increased 3.1 per cent from 2014 to 2,975 in 2015. This was the best year on record for home sales in the Guelph region.
The average price of homes sold in December 2015 was $366,177, up 0.2 per cent from levels in December 2014. For the year as a whole the average price increased 5.6 per cent from the previous year to $378,721 in 2015.
The dollar volume of residential sales in December 2015 was $49 million, down 12.3 per cent from the same month in 2014. The dollar volume in all of 2015 increased 8.9 per cent to $1.1 billion the highest level on record.
The total value of all properties sold in December 2015 was $53.3 million, a decrease of 10.3 per cent on a year-over-year basis.
New residential listings numbered 119 units in December, down 10.5 per cent on a year-over-year basis.
There were 566 active residential listings on the Association’s MLS® System at the end of December 2015, down 23 per cent from a year earlier.
There were 4.2 months of inventory at the end of December 2015, down from 4.8 months a year earlier. This was below the long-term average for this time of year. 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 500 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.