Guelph Home Sales set July Record

According to statistics provided by the MLS® System of the Guelph and District Association of REALTORS®, home sales numbered 314 units in July 2013. This was an increase of 22 per cent from the same month last year, and marks the second consecutive gain of more than 20 per cent.

Sales of all types of properties in the Guelph region numbered 325 units in July, up 18 per cent from year-ago levels.

“Resale housing demand in July 2013 set a new record for the month, following on the heels of an all-time record set in June,” said Matthew Bennett-Monty, President of the Guelph and District Association of REALTORS®. “Some 2,005 homes have traded hands so far this year, second only to the first seven months of 2007.”

The average price of homes sold in July 2013 was $338,737, rising six per cent from levels in July 2012.

The residential dollar volume of sales in July 2013 was $106.4 million, up 29 per cent from the same month last year. The total value of all properties sold in July 2013 was $107.6 million, up 24 per cent on a year-over-year basis.

New residential listings numbered 443 units in July, up 13 per cent on a year-over-year basis. There were 739 active residential listings on the Association’s MLS® System at the end of July 2013, rising six per cent from a year earlier.

There were 2.4 months of inventory at the end of July 2013. This was down from 2.7 months at the same time last year, and remains 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.