Guelph Home Sales Running At Near Record Levels in November

According to statistics provided by the MLS® System of the Guelph and District Association of REALTORS®, home sales numbered 229 units in November 2014. This was down 5.0 per cent from a November in 2013, but still marked second best month of November ever.

Sales of all types of properties in the Guelph region numbered 243 units in November, down 5.1 per cent from year-ago levels.

“November saw a bit of a decline on a year-over-year basis owing to last year’s record for the month, but the bigger picture is that 2014 will be a record year for home sales in the region,” said Kimberley McKenzie, President of the Guelph and District Association of REALTORS®. “With sales booming and listings struggling to keep pace, prices have continued to climb.”

The average price of homes sold in November 2014 was $367,420, up four per cent from levels in November 2013. The year-to-date average price was $358,685, up 4.2 per cent from the first 11 months of 2013.

The residential dollar volume of sales in November 2014 was $84.1 million, down 1.2 per cent from the same month last year.

The total value of all properties sold in November 2014 was $90.3 million, an increase of 3.2 per cent on a year-over-year basis.

New residential listings numbered 238 units in November, down 7.4 per cent on a year-over-year basis. There were 617 active residential listings on the Association’s MLS® System at the end of November 2014, up 1.8 per cent from a year earlier.

There were 2.7 months of inventory at the end of November 2014, little changed from 2.5 months a year earlier and well 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.