MAY STATS

May – the heart of the Spring Market!  Traditionally, it is one of the busiest months for listings in our local market: buyers reemerge after a long winter, in search of a new home just in time for summer.  While it is often viewed as a feeding frenzy for buyers, the influx of sellers looking to take advantage of the busy market keeps the conditions in relative equilibrium.  In the past several years, the sales to new listings ratio has been indicative of a moderate Seller’s Market.  This past month, that ratio landed at 80% – a Hot Seller’s Market, as demand continues to put pressure on supply.  While that figure is relatively higher than the past several years, and no doubt related to the significant increase in home values (the median sale price in May 2021 increased 28% over May 2020), a more subtle story emerges.  The sales to new listings ratio has held stable at 79%, 80% and 80% over the past three months, respectively, after dropping from a whopping 93% and 88% in January and February of this year.  

(All residential properties in the City of Guelph from May 1st, 2016 to May 31st, 2021)

(All residential properties in the City of Guelph from May 1st, 2016 to May 31st, 2021)

Shifting to a micro focus, you can see how interconnected home values and buyer demand are, exemplified twice in the past year: in both July and December, the number of homes sold was higher than the number of new listings, clearing out an already depleted home inventory.  The following month, we saw a significant jump in median sale price (7.6% and 10.9%, respectively).  Following the massive price increase in January, we’ve seen a steady stream of new listings to the market.  While the median sale price continues to climb month-over-month, that rate at which it is increasing appears to be levelling out.  Not exactly the price break that buyers may be hoping for, but this hint of stability in our market is certainly good news for all.


Over the next few months, we’ll be watching the effect of the new mortgage stress test rules implemented on June 1st of 2021, in an effort to ‘cool’ the buyer demand in real estate markets across Canada.  Stay tuned for those reports.

(All residential properties in the City of Guelph from May 1st, 2020 to May 31st, 2021)

(All residential properties in the City of Guelph from May 1st, 2020 to May 31st, 2021)

EXCITING NEWS

After months of planning, we are almost ready to launch our new Home Sales Search Site!

This website will look much like a home search site (such as Realtor.ca or search.homegrouprealty.ca), except that it will feature sold properties! This new tool will replace our current reports, and will include all of the sales data that you’re used to seeing in our reports, with additional interactive features like photos and maps. Imagine Realtor.ca, but for sold listings!

We will be doing a subscriber-exclusive soft launch of the search site next Friday, and transition fully to this new platform by the end of the month. We will also be providing tutorials to set up your own searches, and you can get access to up-to-date sales data any day of the week!

We are grateful for all of our dedicated subscribers, and we’re looking forward to providing you even better quality information. And of course, we’re here to make the transition as seamless as possible and offer tech support if needed, to make sure you get the most out of this new platform.

Take a sneak peek at the platform below, and stay tuned for the subscriber-exclusive launch next week! Not a subscriber? Get instant access via the form below.

NOTE:  Address and Sale Price have been hidden for demonstration purposes. Users will be able to access this information when the site launches.

NOTE: Address and Sale Price have been hidden for demonstration purposes. Users will be able to access this information when the site launches.

 

Find our full MAY 2021 MARKET REPORT below:

This monthly report includes:

  • Sales stats for all Guelph home types

  • Price breakdowns for all 18 Guelph neighbourhoods

  • Township comparisons: Puslinch, Guelph/Eramosa, and Centre Wellington

  • Freehold & condo breakdowns for Guelph, Kitchener, Waterloo & Cambridge

 

THE PAST WEEK IN THE GUELPH REAL ESTATE MARKET


This past week in our local market, 64 homes were sold – the same as last week, and only slightly ahead of the previous years. See the full key-week comparison below.

If you’re a subscriber, you’ll find the link to all home sales in the past week in your email. If you’re new to the blog, sign up below to receive instant access to these reports.

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NOT A SUBSCRIBER?

Sign up for our weekly blog and receive up-to-date information on local market conditions, plus receive exclusive reports with each week’s homes sales & sales price, for all of Guelph’s neighbourhoods and nearby cities. Sign up below to get instant access to this week’s sale prices.


 

Learn more about the Home Group Realty Journey

 

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