Guelph Home Sales Shows No Signs Of Slowing Down
Guelph and District Association of REALTORS® MLS® home sales show no signs of slowing down in the New Year.
The number of homes sold through the MLS® System of the Guelph and District Association of REALTORS® totaled 253 units in January 2021. This was up 8.6% from January 2020.
“Although we didn’t end up setting a new record for the month as we have in several months prior, home sales still marked the fourth-best showing for a January in history,” said Sabrina Essery, President of the Guelph and District Association of REALTORS®. “This is particularly impressive given that inventories are essentially sitting at record lows and there hasn’t been a rebound in new listings to the same extent that sales activity has come roaring back. With the tightest market conditions on record and a very limited pool of available supply, it’s understandable that price growth across all major housing types continues to accelerate even further into the double digits.”
The MLS® Home Price Index (HPI) tracks price trends far more accurately than is possible using average or median price measures. The overall MLS® HPI composite benchmark price was $694,200, rising 22.3% in January 2021 compared to January 2020.
The benchmark price for single-family homes was $719,100, advanced 22% on a year-over-year basis in January. By comparison, the benchmark price for townhouse/row units rose 26.2% to $515,100, compared to a year earlier, while the benchmark apartment price was $404,000, improving 17.9% from year-ago levels.
The average price of homes sold in January 2021 was $769,593, an increase of 29.5% from January 2020.
The dollar value of all home sales in January 2021 was $194.7 million, climbing 40.6% from the same month in 2020. This was also a new record for the month of January.
There were 344 new residential listings in January 2021. This was down 7% from the end of January 2020. This was the lowest number of new listings added in the month of January in more than 15 years.
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