Guelph Home Sales Up Again in November
According to statistics provided by the MLS® System of the Guelph and District Association of REALTORS®, home sales numbered 220 units in November 2019. This was an increase of 10% from November 2018.
On a year-to-date basis, home sales totaled 2,914 units over the first 11 months of the year, up 7.9% from the same period in 2018.
“Home sales remained historically strong in November, a trend that has been in place since the summer,” said Christianne Child, President of the Guelph and District Association of REALTORS®. “While inventories are up a bit from the extreme lows of late 2016 and early 2017, they are nonetheless still well below average. Coupled with the recent strength in demand the market remains very much tilted in favour of sellers, which is why prices continue to march higher.”
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 for Guelph and District was $560,800, up 5.8% in November 2019 compared to November 2018. The benchmark price for single-family homes was $574,500, climbing 5.4% on a year-over-year basis in November.
By comparison, the benchmark price for townhouse/row units was $413,900, up 8.8% compared to a year earlier while the benchmark apartment price was $355,900, rising 5%.
The average price of homes sold in November 2019 was $571,065, up 6.7% from November 2018. The more comprehensive year-to-date average price was $565,042, a 7.2% gain from the first 11 months of 2018.