LAST WEEK IN THE GUELPH MARKET

A busy week in the Guelph real estate market with a 52% increase in sales over the previous year.  Great news and indicative of the enduring strength the Guelph real estate market has.  

The late fall market here in Guelph has been growing in strength and that is certainly present in the past week where 63% of the homes sold went at or above list price.  You might recall that the early months of this year were considerably slower and indicators pointed to a slowing market. Our fall market has more than made up for this year’s slow start. 

The median home sold in Guelph last week was a 3 bedroom, 2 bath, 1,257 square foot detached home.  That home sold for $520,000 or $390.92/sqft, which is a 16% increase over the same week in 2018.  Ironically, the median home last year was virtually the same.  

The median home this week took 19 days to sell and given that 63% of those homes sold went at or above list price, it’s no surprise that sellers were essentially getting 100% of their list price.  Much better than the week of December 7, 2018 when homes took 27 days to sell and sellers achieved 97.8% of list.  

We’ve talked about this in previous blogs.  Week to week comparisons a very small snapshots of the market for a one week period.  We do need to pull back and look for more meaningful trends in the longer range picture.  Our November summary is now available and you can download or view the stats reports for Guelph and the surrounding region at  homegrouprealty.ca/stats.

This week’s column is a short one as I’m working offsite at an exciting 2 day event about compliance.  Government regulations at all levels are constantly changing and increasing.  Yesterday and today will be spent working through compliance manuals to ensure we have all our policies and procedures up to date.  Tedious work to say the least. 

Enjoy the weekend.  I’m going to check out some of the awesome Christmas light displays in our region.  We put together a list of the Best Holiday Light Displays & Christmas Markets, check it out at  homegrouprealty.ca/blog.

Thanks for reading.

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Featured Property

28-60 Arkell Road, Guelph

3+1 BED | 3.5 BATH | 2,488 SQ FT

$735,000

This executive townhome in Guelph's desirable South End is not what you expect of a townhome! Stretching across four floors and nearly 2,500 square feet, this home features spacious and light-filled living spaces and plenty of room for a large or multi-generational family. Packed with builder upgrades, there's nothing left for you to do but move in!

View this incredible home this weekend at one of our public open houses:

Saturday, December 7th from 2 to 4 PM

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