Guelph Home Sales Top 300 in March
According to statistics provided by the MLS® System of the Guelph and District Association of REALTORS®, home sales numbered 310 units in March 2015. This was up 8.4 per cent from March in 2014.
Sales of all types of properties in the Guelph region numbered 324 units in March, up 8.7 per cent from a year earlier.
“March home sales have previously topped the 300 mark four times in history, so while current levels of activity are not unprecedented, they are historically very strong,” said Jeff Morley, President of the Guelph and District Association of REALTORS®. “The balance of supply and demand suggests sellers will once again be in the driver’s seat as we head into the busiest time of year for real estate transactions. That means prices are likely to move higher, and we’ve already seen plenty of evidence of that in the first quarter.”
On a year-to-date basis home sales in the first three months of 2015 came in 10.1 per cent ahead of sales in the same period of 2014.
The average price of homes sold in March 2015 was $361,458, up 2.9 per cent from levels in March 2014. The year-to-date average sale price was $366,094, an increase of 6.3 per cent from 2014.
The dollar volume of residential sales in March 2015 was $112 million, rising 11.5 per cent from the same month in 2014, and setting a March record.
The total value of all properties sold in March 2015 was $115 million, an increase of 11.3 per cent on a year-over-year basis.
New residential listings numbered 517 units in March, up 18.6 per cent on a year-over-year basis. There were 657 active residential listings on the Association’s MLS® System at the end of March 2015, down 2.2 per cent from a year earlier.
There were 2.1 months of inventory at the end of March 2015, down slightly from 2.3 months a year earlier and 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.
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The Guelph and District Association of REALTORS® represents more than 450 REALTORS® in Guelph and surrounding communities like Fergus and Elora. Additional information can be found on the Association’s web site at www.GDAR.ca.