Guelph Home Sales Remain Strong in July
According to statistics provided by the MLS® System of the Guelph and District Association of REALTORS®, home sales numbered 300 units in July 2014. This was down 4.5 per cent from the record set in July 2013.
Sales of all types of properties in the Guelph region numbered 311 units in July, down four per cent from year-ago levels.
“While activity was down a bit in July compared to the record set last year it was nevertheless another very strong month for home sales in the region,” said Kimberley McKenzie, President of the Guelph and District Association of REALTORS®. “Last year’s July record was 314 sales and this July managed to hit the 300 mark so we’re still looking at one of the best months of July ever. Recent increases in new supply have provided a bit of relief but the market is still tight and price gains continue to reflect that.”
The average price of homes sold in July 2014 was $366,953, up eight per cent from levels in July 2013.
The residential dollar volume of sales in July 2014 was $110.1 million, up four per cent from the same month last year and a record for the month of July.
The total value of all properties sold in July 2014 was $115 million, an increase of seven per cent on a year-over-year basis.
New residential listings numbered 468 units in July, up six per cent on a year-over-year basis. There were 824 active residential listings on the Association’s MLS® System at the end of July 2014, up 12 per cent from a year earlier.
There were 2.7 months of inventory at the end of July 2014, up from 2.4 a year earlier but slightly 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.
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The Guelph and District Association of REALTORS® represents more than 450 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.