September 27th, 2019 Sales Summary:

SHORT & SWEET

We're keeping it brief this week.  Here's how it's been it’s been. 

44 homes were reported sold in Guelph and the surrounding two townships this past week, a 12% reduction from the same week last year when we reported 50 homes sold.  There may have been less homes sold, but that didn’t stop more of them from selling at or above list price.  16 or 36.4% of the homes sold last week went at or above list price.  Compared to 22% of the 50 homes last year that went over list price. Interesting in that less volume of homes selling and yet more are selling at or above list and seller’s essentially got 1% more on their sales price than last year.  Strong market conditions continue to prevail.  Of course you know that already if you’ve been following our blog. 

The median house that sold this week looked like the following:

3 bedrooms, 2 baths, 1462 sqft

This week’s median home sold at $582,450 or $390.72/sqft.  We’re flirting with the $400/sqft price!  Days on market was 20 days from active on the market to a sold sign on the lawn.  Sellers were successful in negotiating 99.12% of their original list price.  As a seller you couldn’t ask for better conditions!  In fact, Guelph outsold Kitchener, Waterloo and Cambridge.  Combine the Kitchener and Waterloo results last week and they beat our numbers by less than 5.  Where was everyone in those markets?

2019 has been a good year.  Sales are up 4% over 2018 and are running at 91% of the 2017 levels.  Our sales curve is nowhere near the roller coaster compared to other similar markets in southern Ontario.  Quietly out-performing in a subdued manner it seems to be a Guelph thing.  

We’ve got a couple of days left to the month and we know we have already surpassed 2018 numbers for sales with 1,576 home sold.  The high-water mark for sales is still 2016 with 1,850 homes sold by end of September.  Despite the frenzy in 2017 the activity was more price driven as the year to date sales by end of September 2017 totalled 1,724 home.  2018 at the end of September was 1,514 homes sold.  Interesting that three years later we still haven’t matched the sales numbers of 2016 even when you factor in the expanded MLS® access and what seems like a vast influx of GTA buyers.  

Next week we’ll have all the September numbers for you as well as an update on a number of local housing issues we’ve been monitoring.  

Enjoy the first weekend of fall.  Thanks for reading.

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