NOVEMBER 2024 MARKET REPORT

comprehensive review of our local real estate market

 

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November brought a dynamic shift to the Guelph real estate market, blending rising prices and a surge in buyer activity. Home sale prices climbed by 2.1% compared to last year, with the median sale price reaching $761,000. Meanwhile, the average sale price per square foot dropped by 2.2%, offering buyers slightly more value for their investment. Interestingly, the number of listings dipped slightly, down by 2% to 198 homes, yet the market saw a significant 57.4% increase in sales, with 159 homes sold.

For buyers, the strong uptick in sales indicates growing competition, despite fewer listings on the market. With home prices still rising but the cost per square foot dipping, this could be an opportune time to enter the market before demand drives further changes.

Sellers, on the other hand, can take confidence in the increased buyer activity and steady price growth. However, with fewer listings, presenting homes effectively remains crucial to standing out and securing the best offers.

In summary, November’s market reveals a resilient and active environment. Steady price growth, strong buyer demand, and limited inventory create opportunities for both buyers and sellers, making it essential to navigate this market strategically.

 
 
 

2023 Year in Review Market Update

comprehensive review of our local real estate market

 

click below to view & DoWNLOAD

 
 
 
 
 
 
 

The median sale price of Guelph homes increased 12.8% in 2022. Your home could be worth much more than you think!

Request a free home evaluation below and one of our local real estate experts will provide you with a comprehensive & up-to-date report for your home.

 
 
 
 
 
 
 
 
 

Do you know what homes are selling for in today’s market?

Our blog subscribers receive a free report every Friday with the weekly sales in each Guelph neighbourhood, plus the list price and the sold price of each property. If you are not a subscriber but would like access to these exclusive reports, subscribe below to receive this week's sales reports instantly.