Guelph MLS® home sales set new record for October

According to statistics provided by the MLS® System of the Guelph and District Association of REALTORS®, home sales numbered 492 units in October 2020. This was an increase of 27.5% from October 2019. This was also a new sales record for the month of October.

On a year-to-date basis, home sales totaled 4,030 units over the first 10 months of the year. This was little changed, up only 0.9% from the same period in 2019.

“October was yet another record-setting month for MLS® home sales in Guelph, a phenomenon we’ve become somewhat familiar with over the past few months,” said Matthew Bennett-Monty, President of the Guelph and District Association of REALTORS®. “Even as new listings remained near record-high levels for the month of October this was no match for the unprecedented strength of sales activity. Overall supply levels continue to dwindle and price levels remain at or near the highest ever among one of the tightest markets on record.”

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 $653,200, rising 16.5% in October 2020 compared to October 2019.

The benchmark price for single-family homes was $679,000, rising 17% on a year-over-year basis in October. By comparison, the benchmark price for townhouse/row units was $474,300, rising 14.9% compared to a year earlier while the benchmark apartment price was $384,200, rising 13.6%.

The average price of homes sold in October 2020 was$741,746, rising 17.4% from October 2019.

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