Guelph Housing Market Sets Multiple Records in April

According to statistics provided by the MLS® System of the Guelph and District Association of REALTORS®, home sales numbered 367 units in April 2016. This was up 18.4 per cent from April 2015, and marked all-time monthly record for sales in the region.

Sales of all types of properties in the Guelph region numbered 395 units in April, up 17.6 per cent from a year earlier.

Over the first four months of the year, a record 1,081 homes have traded hands. This is up 14.1 per cent from 2015.

“When it comes to the April housing market numbers for the Guelph region, you name it, it set a record,” said Jeff Van de Vorst, President of the Guelph and District Association of REALTORS®. “Whether it’s a record high, like sales or prices, or a record low as we’re seeing with supply, the point is the market has never been more active than it is right now.”

The average price of homes sold in April 2016 was a record $415,775, up 8.4 per cent from levels in April 2015. The year-to-date average price figure was $401,347, rising 7.3 per cent from the same period in 2015.

The dollar volume of residential sales in April 2016 was a record $152.6 million, up 28.3 per cent from the same month in 2015.

The total value of all properties sold in April 2016 was $165.2 million, an increase of 29.2 per cent on a year-over-year basis.

New residential listings numbered 414 units in April, down 11.5 per cent on a year-over-year basis.

There were just 425 active residential listings on the Association’s MLS® System at the end of April 2016, down 41.9 per cent from a year earlier.

There was a record low 1.2 months of inventory at the end of April 2016, down from 2.4 months a year earlier and well below the long-term average for this time of year. 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.