Guelph Home Sales Repeat April’s All Time Record in June
According to statistics provided by the MLS® System of the Guelph and District Association of REALTORS®, home sales numbered 367 units in June 2016. This was up 11.6 per cent from June 2015, and was tied with April 2016 for the highest monthly sales figure on record.
Sales of all types of properties in the Guelph region numbered 387 units in June, up 12.5 per cent from a year earlier.
Over the first half of the year, a record 1,809 homes have traded hands. This is up 11.3 per cent from 2015.
“The market is currently the most active it has ever been, with some 1,100 homes having traded hands in just the last three months alone,” said Jeff Van de Vorst, President of the Guelph and District Association of REALTORS®. “With record low supply right now, it may be a challenge for sales to continue at that pace. It will depend on how many new listings come on stream in the months ahead.”
The average price of homes sold in June 2016 was a record $438,548, up 15.6 per cent from levels in June 2015. The year-to-date average price figure was $411,340, rising 9.5 per cent from the same period in 2015.
The dollar volume of residential sales in June 2016 was a record $160.9 million, up 29 per cent from the same month in 2015. This was the first time volumes had ever surpassed $160 million.
The total value of all properties sold in June 2016 was $166.5 million, an increase of 29.4 per cent on a year-over-year basis.
New residential listings numbered 375 units in June, down 25.3 per cent on a year-over-year basis from last year’s extremely strong record June.
There were just 414 active residential listings on the Association’s MLS® System at the end of June 2016, down 47.1 per cent from a year earlier.
There was a record low 1.1 months of inventory at the end of June 2016, down from 2.4 months a year earlier and 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.
The Guelph and District Association of REALTORS® represents more than 500 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.