Wishing you a Happy Easter! Below you will find a Guelph Market Update For March 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 March

Our crazy market doesn’t seem to be cooling down. In fact, it’s continuing to get crazier! The majority of properties right now are going to bidding wars and on average houses in Guelph are selling for close to 6% over asking with some going for over 25% above asking! House prices are continuing to climb at astronomical rates.The average sale price in Guelph for March was $563,841 which is up 15% from last month and 44% from March 2016!

Inventory is extremely low with only 129 active listings on the market. We had 343 active listings at this time last year and that was still a very strong seller’s market. As many houses listed in March 2017 as in March 2016, the big difference is that everything is selling much faster. Demand in Guelph is extremely high with tons of people relocating to our city from the GTA due to our cheaper housing prices and an increased amount of investors coming to Guelph.

This crazy market can’t continue forever, there are rumblings that the Ontario government is going to step in and implement taxes on foreign investors similar to what happened in Vancouver. Banks, mortgage brokers, and realtors are looking for the market to slow to a more sustainable pace. One thing we can tell you for sure is right now is an excellent time to be a seller!

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!