The November Numbers Issue


November’s sales price per square foot data reveals some intriguing trends. Both detached homes and townhouses saw a month-over month decline in price per square foot, contributing to an overall $10/sqft drop compared to last November. The exception? Condo apartments bucked the trend, rising 11.2% to $606/sqft.


However, averages can sometimes distort the bigger picture. November saw three condo sales exceeding $1 million. If these outliers are removed, the average condo price per square foot drops to $520/sqft, aligning more closely with current sales and inventory levels. Even so, the fact that three high-value condo sales occurred during one of the slowest months of the year highlights how much Guelph's condo market has matured over the last decade.

Shifting focus to the broader real estate landscape, significant changes are underway that will alter how market statistics are presented in the coming months. The Guelph & District Association of Realtors has merged with several northern real estate boards, forming the One Point Association of Realtors. Meanwhile, the Waterloo Region Association of Realtors (WRAR) has combined with other boards to the south and west, becoming the Cornerstone Association of Realtors. 


These mergers have also resulted in a split between MLS® providers. One Point has adopted the PropTx system used by the Toronto Regional Real Estate Board (TRREB), while Cornerstone has retained the ITSO Real Estate system, which Guelph recently left. This shift introduces new challenges. For example, accessing Kitchener-Waterloo MLS data will now require a separate membership. On the flip side, Guelph agents now have full access to the TRREB MLS system, and the 70,000+ TRREB agents in the GTA can now access all Guelph MLS data. Given that over 30% of buyers in Guelph’s market are represented by GTA agents, and that TRREB agents control 10% of Guelph’s listings, this increased connectivity could enhance collaboration and exposure for both buyers and sellers.


While these changes may initially seem complex, the market will adapt. The real estate landscape in Guelph and its surrounding areas remains dynamic and full of opportunity. 


Looking ahead, 2025 is shaping up to be a fascinating year for real estate on multiple fronts. Stay tuned, and enjoy your weekend!

Paul Fitzpatrick




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Listings Of The Week

23 Dumbarton Street, Guelph

●      $849,999

●      Detached bungalow near the hospital

●      3 bed 2 bath

●      1000 sq ft above grade

●      Fully finished basement with separate entrance

●      55x120 LOT

●      Walking distance to schools and many amenities

●      Turn-key with many updates including Kitchen 5yrs old, carpet free with vinyl plank flooring throughout 5yrs old, windows less than 6yrs old, windows less than 6yrs old, insulation replaced 3 yrs ago, furnace A/C 3 yrs old & sump pump 5 yrs old

OPEN HOUSE: Saturday Dec 7th, 1pm-3pm

 

418-251 Northfield Drive E, Waterloo

●      $412,000

●      1 bed 1 bath with 1 parking space owned

●      Private view of treetops on 4th floor

●      Top-tier amenities in the Blackstone Condos including roof top lounge, party room with bar, exercise room & so much more!

●      Shopping just steps outside including restaurants and hair salon.

●      Unit has many upgrades including vinyl plank and tile flooring, full size stainless steel Whirlpool appliances

●      Island with quarts countertops, modern pendant lights above. Pot lights throughout.

OPEN HOUSE: Saturday December 7th, 1pm-3pm

 
 
 
 

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