Hope you are doing well. Below you will find a market update report which will provide you with information on the local real estate market and recent sales activity in your specific area. Let us know if you have any questions or if you are ready to move forward with the next step!

February Market Update For Guelph

Crazy, bubble, insane, and overheated are some of the words being bounced around when it come to the Guelph market. Inventory remains low with only 125 active listings. Our days for a home to sell went from 18 last month to 12 this month. Last February the days on market was 27 days, which at the time we all thought was great. If the majority of sellers weren’t holding off on offers for a 7 day period the number of days would be way lower.

Pricing are going up with February’s average sales price being $490,031, compared to last February of $397,315. That is over 23%! Demand is high as buyers continue to move from the higher priced homes in the GTA. We are also seeing investors move from the GTA buying Guelph properties obviously banking on the fact this market is going to continue.

Will it burst, continue, or level out, that seems to be the million dollar question, oops sorry I mean 2 million dollar question. We are hoping for it to slow down to a more reasonable growth rate.The market continuing at this pace will lead to un-affordable housing market for first-time buyers and the market bursting will lead to financial hardship for some Canadians.

Neighborhood Statistics

Below you will find a market update report which will provide you with information on the Guelph Market Update For November and recent sales activity in your specific area. Don’t hesitate to contact us if you have any questions or if you are ready to move forward with the next step!