Multiple offers, crazy bidding wars leading to over asking prices- this is what we have been seeing time and time again. If you examine the market over the past four years or so you will see that this increase in the number of home sales has been on a steady incline. And although you can argue that we have seen the largest jump since the pandemic I do believe we have been heading in this direction for years.
Last May we saw a record-breaking low sales, clearly the effect of the first lockdown and so much uncertainty, but the Guelph market has not only caught up with activity levels but well surpassed the previous sale peak of May 2017.
As I was on social media last night I came across this below graphic from Home Group. It is really interesting to actually look at the price per square foot. Now obviously housing prices are up, but if you look given inventory levels the prices have not inflated that much.
