Guelph Home Sales Set All-Time Record in April
According to statistics provided by the MLS® System of the Guelph and District Association of REALTORS®, home sales numbered 365 units in April 2015. This was up 9.6 per cent from April 2014.
Sales of all types of properties in the Guelph region numbered 387 units in April, up 11.5 per cent from a year earlier. On a year-to-date basis home sales in the first four months of 2015 were running 9.9 per cent ahead of sales in the same period of 2014.
“Market conditions remain very tight in the Guelph region and homes are selling quickly, so the burst of new supply we got in April was all it took to push sales to an all-time high,” Jeff Morley, President of the Guelph and District Association of REALTORS®. “Those sale conditions are also putting upward pressure on prices, with the average sale price also setting a new record in April.”
The average price of homes sold in April 2015 was a record $382,261, up 2.2 per cent from levels in April 2014. The year-to-date average sale price was $371,372, an increase of 4.9 per cent from 2014.
The dollar volume of residential sales in April 2015 was $139.5 million, rising 12.0 per cent from the same month in 2014 and setting a new April record.
The total value of all properties sold in April 2015 was $148.8 million, an increase of 13.9 per cent on a year-over-year basis.
New residential listings numbered 561 units in April, up 8.9 per cent on a year-over-year basis. This was the second highest level on record for the month of April.
There were 718 active residential listings on the Association’s MLS® System at the end of April 2015, edging down 0.4 per cent from a year earlier.
There were 2.0 months of inventory at the end of April 2015, down slightly from 2.2 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.
The Guelph and District Association of REALTORS® represents more than 450 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.