Second Best January on Record for Guelph Home Sales

 

The number of homes sold through the MLS® System of the Guelph and District Association of REALTORS® posted a double-digit year-over-year increase in January 2013.

 

According to statistics provided by the Association, home sales numbered 189 units in January 2013. This was a year-over-year increase of 17 per cent. It also marked the best month of January in six years, and the second best ever.

 

Sales of all types of properties in the Guelph region numbered 201 units in January, up 18 per cent from year-ago levels.

 

“January’s sales figures were surprisingly strong, particularly given the market’s fairly unremarkable performance in December,” said Matthew Bennett-Monty, President of the Guelph and District Association of REALTORS®. “Having said that, that pattern of demand up one month but back down the next is something we’ve been seeing since last summer, so we’ll need a few more months’ worth of data to gauge if this most recent uptick in activity is just another head fake or the beginning of a trend.”

 

The average price of homes sold in January was $319,680, up four per cent from January 2012.

 

The dollar value of all homes sold through the MLS® System of the Guelph and District Association of REALTORS® totalled $60.4 million in January 2013. This was up 21 per cent from levels recorded in January 2012. The total value of all properties sold in January 2012 was $65.1 million, up 27 per cent on a year-over-year basis.

 

New residential listings numbered 420 units in January, up 10 per cent on a year-over-year basis.

 

There were 556 active residential listings on the Association’s MLS® System at the end of January 2013, rising 12 per cent from a year earlier.

 

There were 2.9 months of inventory at the end of January 2013, down slightly from 3.1 months at the same time last year and still well below the long-run average from months of inventory in the Guelph region. 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.

 

Select a chart below to enlarge:

 

The Guelph and District Association of REALTORS® represents more than 450 REALTORS® in Guelph and surrounding communities like Fergus and Elora. Additional information can be found on the Association’s web site at www.guelphanddistrictrealtors.ca.