Happy March, it is finally starting to feel like Spring! 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. Don’t hesitate to contact us if you have any questions or if you are ready to move forward with the next step!

Guelph Market Update for February


The numbers are in for February and here is what is happening in the Guelph Real Estate Market!

There were 143 sales this month which are down 33% from the 215 sales that we had last February. However, it is up 14% from January.

There are currently 292 active listings on the market. This is up 67% from last year although we had abnormally low inventory in the first quarter of 2017. This is a much healthier amount of inventory.

If we look at the number of new listings we had 239 this February which is down 9% from the 262 last year.

The average sale price in Guelph was $511,000 which is up 5 % from February of last year, which was $489,000.

If we dive into more detail detached houses had an average sale price of $584,000 which is down 1% from last February. This was expected as housing prices were reaching their peak last year in Feb, March, and April and then corrected substantially going into the second half of the year. On the positive side, detached houses are up 3% from last month which means we are going in an upward direction and catching up to last years numbers.

Attached houses are up 1% from last year with an average sale price of $419,000. Condo-apartments had an average sale price of $327,000 which is up 12% from last year.

Right now, houses are selling on average for 100% of list price which is down from the 104.6% we had last year though this is still a great list to sale price ratio. Of the houses that are selling 41% are going to multiple offers. Again, not as many as last year but this is up 6% from last month which shows that our market is building momentum.  75% of the houses that are going to multiple offers are priced under $500,000 meaning our low-end market is very hot right now.

If we look at months of inventory which is our supply and demand, we have just over 2 months of inventory. Last year we had less than one month of inventory but that was an out of control market that didn’t last very long.  Anything under 5 months of inventory is considered a seller’s market meaning 2 months of inventory is a much more stable seller’s market where prices should continue to rise.

To summarize all of this; house prices are continuing to rise, on average they are selling for the full asking price and an increasing number of homes are going to multiple offers.  Inventory is up so for people looking to buy and sell this is a much nicer market to make a move. However, the number of sales is down substantially which means that not everything is selling this year. For sellers, this means that you can’t just throw a sign on your lawn and expect buyers to come knocking. Pricing is important, your house needs to show its best, you have to have an effective marketing plan and most importantly a skilled realtor.

If you have any questions about the Guelph real estate market please contact us!

Neighborhood Statistics


Downtown, Exhibition Park, General Hospital, St. George, St. Patrick’s Ward, Dovercliff Park/Old University

Guelph Market Update For November

Click here for Active/Solds In This Area


Onward Willow, Willow West/Sugarbush

Click here for Active/Solds In This Area


Riverside Park, Victoria North

Click here for Active/Solds In This Area


Grange Road, St.Gregory’s/Tait, York/Watson Industrial


Click here for Active/Solds In This Area


Kortright East & West, Westview, Kortright Hills


Click here for Active/Solds In This Area


Clairfields/Hanlon Bussiness Park, Pineridge/Westminster

Click here for Active/Solds In This Area

Village By The Arboretum


Click here for Active/Sold In This Area

Guelph’s Surrounding Area

Guelph-Eramosa, Elora, Rural Puslinch, Aberfoyle, Morriston, Rural Centre Wellington, Fergus

Click here for Active/Sold In This Area

If you have any questions about the Guelph Market Update For February feel free to contact  The GoWylde Team.

If you would like a free online home evaluation  click here

Leave a Comment

Your email address will not be published. Required fields are marked *