Guelph Home Sales Running At Record Levels in October

According to statistics provided by the MLS® System of the Guelph and DAccording to statistics provided by the MLS® System of the Guelph and District Association of REALTORS®, home sales numbered 282 units in October 2014. This was up 6.4 per cent from October 2013.

Sales of all types of properties in the Guelph region numbered 299 units in October, up 7.6 per cent from year-ago levels.

“October marked the fourth time this year that home sales have set a record for their respective month, with all four coming in the past six months,” said Kimberley McKenzie, President of the Guelph and District Association of REALTORS®. “As a result of the recent strength of demand, with just two months left to go this year sales for the year-to-date remain on track to set a new annual record in 2014.”

The average price of homes sold in October 2014 was $346,384, up 3.8 per cent from levels in October 2013. The year-to-date average price was $357,993, up 4.3 per cent from the first ten months of 2013.

The residential dollar volume of sales in October 2014 was $97.7 million, up 10.4 per cent from the same month last year and a record for the month of October.

The total value of all properties sold in October 2014 was $102.5 million, an increase of 7.8 per cent on a year-over-year basis.

New residential listings numbered 398 units in October, down 8.5 per cent on a year-over-year basis. There were 739 active residential listings on the Association’s MLS® System at the end of October 2014, up 2.5 per cent from a year earlier.

There were 2.6 months of inventory at the end of October 2014, essentially unchanged from 2.7 months a year earlier and 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