Guelph Home Sales Remain Strong in September

According to statistics provided by the MLS® System of the Guelph and District Association of REALTORS®, home sales numbered 245 units in September 2013. This was an increase of 17 per cent from the same month last year and came in above both the five and 10-year averages for the month.

Sales of all types of properties in the Guelph region numbered 264 units in September, up 20 per cent from year-ago levels.

“Home sales continue to run at very strong levels, with activity in September coming in just nine sales below the record for the month set in 2011,” said Matthew Bennett-Monty, President of the Guelph and District Association of REALTORS®. “With just three months left to go this year, the 2013 year-to-date sales figure is running just one per cent behind the record year of 2007. Recall that home sales slowed down in November and December 2007 to levels much lower than we’re seeing today. As such, it’s entirely likely that activity could still pass 2007 and set a new annual record this year.”

Some 2,522 homes have traded hands so far this year. This is running six per cent ahead of the first three quarters of 2012.

The average price of homes sold in September 2013 was $344,049, rising three per cent from levels in September 2012.

The residential dollar volume of sales in September 2013 was $84.3 million, up 20 per cent from the same month last year to the highest September level on record. The total value of all properties sold in September 2013 was $97.6 million, up 32 per cent on a year-over-year basis.

New residential listings numbered 421 units in September, up 14 per cent on a year-over-year basis. There were 760 active residential listings on the Association’s MLS® System at the end of September 2013, rising 12 per cent from a year earlier.

There were 3.1 months of inventory at the end of September 2013, little changed from the same time last year (3.2 months) and in line with 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.