Guelph Home Sales Remain Strong in February
According to statistics provided by the MLS® System of the Guelph and District Association of REALTORS®, home sales numbered 237 units in February 2016. While this was down 1.3 per cent from the record for February in 2015, it was still the second highest ever level for the month.
Sales of all types of properties in the Guelph region numbered 254 units in February, down 1.6 per cent from a year earlier.
For the first two months of the year a record 410 homes have traded hands. This is up 5.7 per cent form 2015.
The average price of homes sold in February 2016 was $397,887, up 6.8 per cent from levels in February 2015.
The dollar volume of residential sales in February 2016 was $94.3 million, up 5.4per cent from the same month in 2015. This was the highest dollar volume of any February on record.
The total value of all properties sold in February 2016 was $76.2 million, an increase of 36.6 per cent on a year-over-year basis.
New residential listings numbered 337 units in February, up six per cent on a year-over-year basis. This was the highest number of new listings for any February since 2010.
There were 406 active residential listings on the Association’s MLS® System at the end of February 2016, down 27 per cent from a year earlier.
There was a record low 1.7 months of inventory at the end of February 2016, down from 2.3 months a year earlier and well 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.