Guelph Home Sales Post Quiet February
Guelph home sales post quiet February!
According to statistics provided by the MLS® System of the Guelph and District Association of REALTORS®, home sales numbered 168 units in February 2019. This was a decrease of 10.6% from February 2018 marked the lowest February sales figure in two decades.
On a year-to-date basis, home sales totalled 321 units over the first two months of the year, down 4.7% from the same period in 2018.
“Along with a number of nearby markets, Guelph home sales were very quiet in February,” said Christianne Child, President of the Guelph and District Association of REALTORS®. “That said, in many of these cases, our region included, the decline in sales coincided with a dearth of new supply, so we’re likely looking at the combination of demand and supply factors working together to hold back sales at the moment. The fact that prices are still pushing higher would seem to confirm this.”
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 $527,300, up 6.8% in February 2019 compared to February 2018.
The benchmark price for single-family homes was $539,600, up 5.9% on a year-over-year basis in February. By comparison, the benchmark price for townhouse/row units was $391,400, up 6.7% compared to a year earlier while the benchmark apartment price was $334,100, rising 13.4%.
The average price of homes sold in February 2019 was $549,210, rising 10.1% from February 2018. The more comprehensive year-to-date average price was $537,432, up 8.9% from the first two months of 2018.