Guelph Home Sales Up in April

According to statistics provided by the MLS® System of the Guelph and District Association of REALTORS®, home sales numbered 322 in April 2013. This was an increase of five per cent from last April, and stood well above April 2011 as well.

Sales of all types of properties in the Guelph region numbered 335 units in April, also up five per cent from year-ago levels.

“Demand has improved in recent months whereas it was starting to come off the boil around this time last year, and that’s led to a quick turnaround in year-over-year comparisons from the double digit declines in February and March to an increase in April,” said Matthew Bennett-Monty, President of the Guelph and District Association of REALTORS®. “But sales were not just up compared to last year, it was a pretty good April compared to most of history. It stood well above the five and 10-year averages for the month, and was tied with 2005 for the third best April sales figure ever in the region.”

The average price of homes sold in April was $342,734, up five per cent from April 2012.

Residential dollar volume totalled $110.4 million in April 2013. This was up 10 per cent from levels recorded in April 2012, and marks just the eighth time in history that the monthly dollar value of all homes sold through the MLS® System of the Guelph and District Association of REALTORS® has surpassed the $100 million mark.

The total value of all properties sold in April 2013 was $117.2 million, up nine per cent on a year-over-year basis.

New residential listings numbered 506 units in April, up 16 per cent on a year-over-year basis.

There were 711 active residential listings on the Association’s MLS® System at the end of April 2013, rising nine per cent from a year earlier.

There were 2.2 months of inventory at the end of April 2013. This was up slightly from 2.1 months at the same time last year, but remains well below the long-run average for this time of year in the Guelph region and is also still one of the tightest seller’s markets in the country. 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.