Guelph Home Sales Set New October Record

According to statistics provided by the MLS® System of the Guelph and District Association of REALTORS®, home sales numbered 265 units in October 2013. This was an increase of 32 per cent from the same month last year and marked the strongest month of October on record.

Sales of all types of properties in the Guelph region numbered 278 units in October, up 28 per cent from year-ago levels.

“October marks the fifth consecutive month of double digit year-over-year sales growth in the region, and the third time activity has set a new monthly record this year,” said Matthew Bennett-Monty, President of the Guelph and District Association of REALTORS®. “With just two months left to go this year, transactions for the year-to-date have now surpassed the previous record set in 2007, and are on track for a new annual record.”

Some 2,787 homes have traded hands so far this year. This is running eight per cent ahead of the first 10 months of 2012.

The average price of homes sold in October 2013 was $333,747, rising four per cent from levels in October 2012.

The residential dollar volume of sales in October 2013 was $88.4 million, up 37 per cent from the same month last year. The total value of all properties sold in October 2013 was $95.1 million, up 38 per cent on a year-over-year basis.

New residential listings numbered 435 units in October, up 15 per cent on a year-over-year basis. There were 721 active residential listings on the Association’s MLS® System at the end of October 2013, rising nine per cent from a year earlier.

There were 2.7 months of inventory at the end of October 2013, down from 3.3 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.