A glance at the market conditions in the past 4 months! Guelph & District saw a 13.3% increase in the average sale price, a decline in the number of new listings on the market (almost 12% decrease in inventory compared to this period in 2019), and an average sale price increase by AT LEAST 10% for all home types compared to this period last year! Needless to say, it has been a busy time!
The average days on market for the City of Guelph in this period for 2020 were 20, (4 days LESS vs. 2019). The number of sales in this period decreased by 4.06% compared to May-August of last year.
As you could imagine it is a difficult time for buyers, and we have seen an influx of buyers from Toronto coming to our beautiful little Guelph bubble! As the world has changed this year we are seeing more and more people being able to work from home and therefore move away from the even higher prices in the GTA. Unfortunately, this isn’t making things easy on Guelph residents when seeking to purchase.
If you have any questions about the current state of the Guelph market- please do not hesitate to ask!