Guelph Home Sales Steady in March

According to statistics provided by the MLS® System of the Guelph and District Association of REALTORS®, home sales numbered 286 units in March 2014. This was an increase of just one per cent from the same month last year.

Sales of all types of properties in the Guelph region numbered 298 units in March, unchanged from year-ago levels.

“Home sales came in roughly in line with the 10-year average for the month of March, and on par with last March as well,” said Kimberley McKenzie, President of the Guelph and District Association of REALTORS®. “While the overall number of transactions was little changed from last year, there were fewer detached homes sold this March, and fewer sales at the very highest end of the market as well. This resulted in a decline in the average selling price.”

The average price of homes sold in March 2014 was $351,302, down two per cent from levels in March 2013. The first quarter average sale price was $344,460, up one per cent from the same period last year.

The residential dollar volume of sales in March 2014 was $100.5 million, edging down one per cent from the same month last year. The total value of all properties sold in March 2014 was $103.5 million, also down one per cent on a year-over-year basis.

New residential listings numbered 436 units in March, up one per cent on a year-over-year basis. There were 672 active residential listings on the Association’s MLS® System at the end of March 2014, up three per cent from a year earlier.

There were 2.3 months of inventory at the end of March 2014, on par with 2.8 months a year earlier and the long-run average for this time of the year as well 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.