MLS® home sales in Guelph shatter previous all-time record
The number of homes sold through the MLS® System of the Guelph and District Association of REALTORS® totaled 727 units in March 2021. This was a substantial increase of 77.3% from March 2020. This was also a new sales record for the month of March and was the highest level for any month in history.
On a year-to-date basis, home sales totaled a record 1,464 units over the first three months of the year. Climbing 45.4% from the same period in 2020.
“March was yet another record-setting month for MLS® market activity in our region,” said Sabrina Essery, President of the Guelph and District Association of REALTORS®. “Resale homes sales set new records for both the month of March and for the best single month total in history. There was also a notable uptick in the number of newly listed resale properties this past month. This infusion of new listings helped to backstop overall inventory lifting the total number of available properties to a level not seen in 6 months. We expect that as vaccines become more widely available over the coming months, we will start to see sellers emerge from the current lockdowns and look to enter the market further shoring up available inventory. This should help fuel the spring market and perhaps carry over into the summer months.”
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 was $770,500 in March 2021, was a sizable gain of 29.7% compared to March 2020.
The benchmark price for single-family homes was $800,200, rising by 29.9% on a year-over-year basis in March. By comparison, the benchmark price for townhouse/row units was $573,200, an advance of 33.5% compared to a year earlier, while the benchmark apartment price was $434,100, up by 20.9% from year-ago levels.
The average price of homes sold in March 2021 was $852,524, increasing by 27.4% from March 2020.
The more comprehensive year-to-date average price was $839,491, a gain of 28% from the first three months of 2020.
The dollar value of all home sales in March 2021 was $619.8 million, more than double the levels from a year earlier, surging 125.8% from the same month in 2020. This was a new record for the month of March and was also the largest dollar value of homes sold for any month in history.
The number of new listings saw a significant increase of 42.9% from March 2020. There were 863 new residential listings in March 2021. This was also the largest number of new listings added in the month of March in history.