NOVEMBER GUELPH REAL ESTATE IN REVIEW
The number of homes sold through the MLS® totaled 388 units in Nov 2020. This was an increase of 15.1% from Nov 2019 and was also a new sales record for the month of November.
On a year-to-date basis, home sales totaled 4,417 units over the first 11 months of the year. This edged up 1.9% from the same period in 2019.
“Sales activity set another individual monthly record for November as demand continues unabated since roaring back to life in the summer,” said Matthew Bennett-Monty, President of the Guelph and District Association of REALTORS®. “New listings have also returned to the market in solid numbers but it’s just not enough to keep up with the current pace of demand. As a result, we’re looking at some of the tightest market conditions in history. Consequently, lifting price levels up to new highs while overall supply levels continue trending at their lowest on record.”
The average price of homes sold in November 2020 was a record $768,038, rising 22.3% from November 2019. The more comprehensive year-to-date average price was $706,264, up 14.5% from the first 11 months of 2019.
The dollar value of all home sales in November 2020 was $298 million, a notable gain of 40.9% from the same month in 2019. This was also a new record for the month of November.
There were 371 new residential listings in November 2020. This was an increase of 14.2% from the end of November 2019. Active residential listings numbered 289 units at the end of November, declining 44% from the end of November 2019.
