GUELPH MARKET UPDATE FOR APRIL 2021

Below you will find a Guelph Market Update For April 2021 which will provide you with information on the local real estate market and recent sales activity in specific Guelph neighbourhoods. 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 APRIL

We have noticed that the market is shifting. It appears to have slowed a bit through April. We are still in an extremely strong sellers’ market where 74% of the houses are selling above their list price but they are now selling on average for 7% above as opposed to the 10-12% that we were experiencing in the first quarter.

Offer presentations are more hit and miss right now. Some houses are selling way over asking and others are only getting one offer.

It was interesting that this April had 20% fewer sales than March and the number of new listings was down 17%. This is unusual for the spring market as we typically see the number of sales and new listings increase each month from March through to May. This is likely due to the lockdown.

The average sale price remained flat from last month but if you look at different housing categories attached homes are down 2% from March and Condos are down 3% while detached are up 1%.

Months of inventory is also increasing. We have had less than 1 month’s supply of listings for the entire year and we have now passed 1 month’s supply. Anything under 4 months is considered a seller’s market meaning we are still in a very strong market, but this shows that the market is changing.

If you have any questions about the local real estate market please feel free to reach out to us at the GoWylde team!