November Guelph Home Sales
Guelph Home Sales Down Year-Over-Year in November
According to statistics provided by the MLS® System of the Guelph and District Association of REALTORS®. Home sales numbered 194 units in November 2018. This was a decrease of 11.8% from November 2017.
On a year-to-date basis, home sales totalled 2,730 units over the first 11 months of the year. A decrease of 13.9% from the same period in 2017.
“Home sales remained at subdued levels in November after having slowed again in October,” said Kristi Mercier, President of the Guelph and District Association of REALTORS®. “Notwithstanding the slowdown in sales activity, the fact that there are still only about two months of inventory out there is keeping some upward pressure on prices in the region among all housing types.”
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 $530,000, up 9.3% in November 2018 compared to November 2017.
The benchmark price for single-family homes was $544,900, up 8.7% on a year-over-year basis in November. By comparison, the benchmark price for townhouse/row units was $380,400, up 7.4% compared to a year earlier while the benchmark apartment price was $338,900, rising 15.2%.
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