Guelph Home Sales Remain Subdued in March
Guelph Home Sales Remain Subdued in March. According to statistics provided by the MLS® System of the Guelph and District Association of REALTORS®, home sales numbered 235 units in March 2019. This down a slight 1.3% (three sales) from March 2018.
On a year-to-date basis, home sales totalled 565 units over the first three months of the year, down 1.7% (10 sales) from the same period in 2018.
“Along with a number of nearby markets, Guelph home sales remained pretty quiet by historical standards in March,” said Christianne Child, President of the Guelph and District Association of REALTORS®. “That said, in many of these cases, our region included, the lower sales figures have been in the context of a lack of properties to buy, 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 $537,700, up 6.6% in March 2019 compared to March 2018.
The benchmark price for single-family homes was $557,200, up 6.7% on a year-over-year basis in March. By comparison, the benchmark price for townhouse/row units was $387,100, edging up 3.7% compared to a year earlier while the benchmark apartment price was $326,400, rising 10.2%.
The average price of homes sold in March 2019 was $536,073, virtually unchanged from March 2018.
The more comprehensive year-to-date average price was $537,907, up 5.3% from the first three months of 2018.
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