Guelph Market Update for September 2021

Below you will find a Guelph Market Update for September 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 September 2021

If the Guelph real estate market last month was considered hot then September’s market is boiling hot.

In September, we typically see a rush of listings hit the market. This year new listings were only up 10% from August and they were quickly gobbled up by the frenzy of buyers. Sellers are in heaven and buyers whereas buyers are left extremely frustrated…and for good reason.

73% of the listing went to multiple offers compared to the 60% in August. Homes are selling on average for 107% of their list price versus 103% in August. Also, the average sale price went up another 3% this month.

Is there an end to this overheated market? Canada is seeing rapid inflation and the Bank of Canada continues to maintain low-interest rates for the foreseeable future. Both these play into a continued heated Real Estate market.

Trudeau has promised to put in some measures to cool the market with hopes of improving housing affordability. Which will most likely be like using a garden house to put out a blazing forest fire. The real issue is lack of housing and that isn’t something that can be fixed quickly.