Number of Guelph Home Sales Increase in December, While Average Prices See Aggressive Double Digit Growth
GUELPH, ON (Jan 6, 2020) ––There were 98 residential homes sold through the Multiple Listing System (MLS® System) in the City of Guelph in December 2019, an increase of 15.3 per cent compared to December 2018 – An impressive percentage increase in and of itself.
“Overall, it was an accelerated December for number of home sales in December particularly for single-family detached units.” says Adam Stewart, a Sales Representative with Chestnut Park West in Guelph. Total residential sales in December included 55 detached (up 41 per cent), and 18 condominium units (down 10 per cent). Sales also included 2 semi-detached homes (down 60 per cent) and 23 freehold townhouses (up 9.5 per cent).
Here’s were it gets interesting. The average sale price of all residential properties sold in December increased 14.9 per cent to $550,378 compared to the same month last year. Detached homes sold for an average price of $633,317 an increase of 11 per cent compared to 2018. During this same period, the average sale price for an apartment style condominium was $397,333 for an increase of 21.4 per cent. Townhomes and semis sold for an average of $476,652 (up 3.1 per cent) and $494,800 (up 11.3 per cent) respectively.
The median price of all residential properties sold in December increased 13 per cent to $520,000 and the median price of a single-family detached home during the same period increased 6.3 per cent to $575,000.
“A consistent theme this month, is the lack of supply as a hurdle for anyone who was trying to buy their first home, move-up from their current residence, or downsize. This ongoing state of the market is causing further escalation of home prices,” says Stewart.
The number of months of inventory was .7 in December (down 22.2 per cent), hitting its lowest point of the year (1-2 months supply is historically normal for The City of Guelph). The average days to sell in December was 29 days, compared to 39 days in 2018.
While the majority of residential MLS® System activity is properties for sale, REALTORS® listed 12 properties for lease in the City of Guelph in December, which is on par with 10 lease listings in December of 2018.
GUELPH Historical Sales by Property Type
Average GUELPH Sales Price – By Property Type
Average Days on Market in GUELPH
The information provided in this feature has been sourced by Adam Stewart, Real Estate Sales Representative with Chestnut Park Realty Southwestern Ontario Ltd. Brokerage. The information has been drawn from sources deemed to be reliable, but the accuracy and completeness of the information is not guaranteed. In providing this information, neither Adam Stewart, nor Chestnut Park Realty Southwestern Ontario Ltd. Brokerage assumes any responsibility or liability.
Adam Stewart is a Real Estate Sales Representative with Chestnut Park Realty Southwestern Ontario Ltd. Brokerage serving Guelph, Kitchener-Waterloo, Cambridge, Wellington County and Southwestern Ontario markets. Adam can be reached at 519-265-2602, online at www.adamstewart.ca, or by email at adam.stewart@chestnutparkwest.com.