Guelph Housing Market Shows Strong Rebound in June
Guelph housing market shows a strong rebound in June from record lows seen over the past three months.
According to statistics provided by the MLS® System of the Guelph and District Association of REALTORS®, home sales numbered 345 units in June 2020. This was an increase of 15.4% from June 2019 and was the fourth-highest level of sales for the month.
On a year-to-date basis, home sales totaled 1,385 units over the first six months of the year. This was a decrease of 11.8% from the same period in 2019.
“Home sales continued to rebound in June compared to the record lows that occurred over the past three months,” said Matthew Bennett-Monty, President of the Guelph and District Association of REALTORS®. “New listings have also rebounded but have not come back as strongly as sales activity. As a result, the market is very much within seller’s territory and continues to fuel strong price growth, pushing average prices reached a new record in June.”
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 $596,800, up 8.3% in June 2020 compared to June 2019.
The benchmark price for single-family homes was $617,100, up 7.4% on a year-over-year basis in June. By comparison, the benchmark price for townhouse/row units was $436,000, up 9.5% compared to a year earlier while the benchmark apartment price was $363,700, rising 12.3%.
