Guelph 2016 vs 2015
Wow! 2016 was a crazy year for Guelph Real Estate. We saw the average house price in the city increase 14.2%, which is a record for the city! The number of houses that sold was only up 4% which is due to an increased amount of buyers migrating to Guelph and not selling a home in the city. Most of these buyers are relocating from the GTA due to Guelph’s much more affordable housing prices.
With the huge increase in demand for Guelph housing and the small increase in the number of houses offered for sale in 2016 inventory has plummeted to an all-time low. We entered January 2017 with 80 active listings which is way less than the 262 listings we had on the market in January 2016. As a result of the low inventory, we are seeing lots of bidding wars with lots of houses selling for over their asking prices. We expect the first half of 2017 to remain a very strong seller’s market.
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!
Central
Downtown, Exhibition Park, General Hospital, St. George, St. Patrick’s Ward, Dovercliff Park/Old University
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West
Onward Willow, Willow West/Sugarbush
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North
Riverside Park, Victoria, Victoria North
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East
Grange Road, St.Gregory’s/Tait, St.Andrew/Southwood,York/Watson Industrial
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Kortright
Kortright East & West, Westview, Kortright Hills
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South
Clairfields/Hanlon Bussiness Park, Pineridge/Westminster
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Village By The Arboretum
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Rural
Guelph Eramosa, Eden Mills, Rural Puslinch, Aberfoyle, Morriston, Rural Centre Wellington
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If you have any questions about the Guelph Market Update for November feel free to contact The GoWylde Team.
If you would like a free online home evaluation click here