Guelph Home Sales Running at Record Levels in September

According to statistics provided by the MLS® System of the Guelph and District Association of REALTORS®, home sales numbered 291 units in September 2014. This was up 19 per cent from September 2013.

Sales of all types of properties in the Guelph region numbered 312 units in September, up 18 per cent from year-ago levels.

“September marked the third time this year that home sales have set a record for their respective month, the other two being June and July,” said Kimberley McKenzie, President of the Guelph and District Association of REALTORS®. “As a result of the strength of demand which began back in April, sales for the year-to-date are now on track to set a new annual record in 2014,”

The average price of homes sold in September 2014 was $361,406, up five per cent from levels in September 2013. The year-to-date average price was $359,249, up 4.3 per cent from the first three quarters of 2013.

The residential dollar volume of sales in September 2014 was $105.2 million, up 24.8 per cent from the same month last year and a record for the month of September.

The total value of all properties sold in September 2014 was $109.9 million, an increase of 12.6 per cent on a year-over-year basis.

New residential listings numbered 486 units in September, up 15.4 per cent on a year-over-year basis. There were 802 active residential listings on the Association’s MLS® System at the end of September 2014, up 5.5 per cent from a year earlier.

There were 2.8 months of inventory at the end of September 2014, down from 3.1 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.