Guelph Home Sales Remain At Subdued Levels In February 2018

According to statistics provided by the MLS® System of the Guelph and District Association of REALTORS®, home sales numbered 198 units in February 2018. This was down 32.2% from a record-breaking February in 2017.

On a year-to-date basis home sales totalled 354 units over the first two months of the year. This was down 29.8% from the same period in 2017.

“Following January’s slowdown, home sales remained at subdued levels in February,” said Kristi Mercier, President of the Guelph and District Association of REALTORS®. “It may take a little longer for the market to balance out somewhere in between last year’s highs and current lows.”

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 benchmark price for Guelph and District in February 2018 was $417,400, up 9.3% compared to the same month in 2017. This marks a deceleration from the double-digit gains posted throughout 2017. Indeed, the next few months could see year-over-year comparisons shrink further based on how quickly prices were rising up until May last year.

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