Guelph Home Sales Set New November Record
According to statistics provided by the MLS® System of the Guelph and District Association of REALTORS®, home sales numbered 241 units in November 2013. This was an increase of eight per cent from the same month last year and marked the strongest month of November on record.
Sales of all types of properties in the Guelph region numbered 256 units in November, also up eight per cent from year-ago levels.
“The housing market in Guelph and surrounding areas remains one of the strongest in Canada, with demand in November setting another monthly record,” said Kimberley McKenzie, President of the Guelph and District Association of REALTORS®. “With just one month left to go this year, transactions for the year-to-date are still running just ahead of 2007 and are on track to set a new annual record. With market conditions remaining tight, prices will be up by about six per cent in 2013.”
Some 3,028 homes have traded hands so far this year. This is running eight per cent ahead of the same period from 2012.
The average price of homes sold in November 2013 was $353,313, rising nine per cent from levels in November 2012.
The residential dollar volume of sales in November 2013 was $85.1 million, up 17 per cent from the same month last year. This was a record for the month of November. The total value of all properties sold in November 2013 was $87.5 million, up 10 per cent on a year-over-year basis.
New residential listings numbered 257 units in November, down 13 per cent on a year-over-year basis. There were 606 active residential listings on the Association’s MLS® System at the end of November 2013, rising four per cent from a year earlier.
There were 2.5 months of inventory at the end of November 2013, down slightly from 2.6 months a year earlier and well 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.