Guelph Home Sales Set New January Record

According to statistics provided by the MLS® System of the Guelph and District Association of REALTORS®, home sales numbered 173 units in January 2016. This was up 16.9 per cent from January 2015.

Sales of all types of properties in the Guelph region numbered 187 units in January, up 19.1 per cent from a year earlier. This was the strongest start to any year on record, besting the previous record set back in 2007.

The average price of homes sold in January 2016 was $379,194, up 6.4 per cent from levels in January 2015.

The dollar volume of residential sales in January 2016 was $65.6 million, up 24.4 per cent from the same month in 2015. This was the highest dollar volume of any January on record.

The total value of all properties sold in January 2016 was $76.2 million, an increase of 36.6 per cent on a year-over-year basis.

New residential listings numbered 286 units in January, down 14.6 per cent on a year-over-year basis. This was the lowest level of new listings since the beginning of 2010.

There were 344 active residential listings on the Association’s MLS® System at the end of January 2016, down 36.5 per cent from a year earlier.

There were 2.0 months of inventory at the end of January 2016, down from 3.7 months a year earlier. This was below the long-term average for this time of year. 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.