Christmas is quickly approaching! We hope you enjoy the holidays with your loved ones! Below you will find our real estate market Guelph market update for November 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 November

There were 153 sales this November which was down from last month 16.85% and 13.6% from November 2016. The average sale price in Guelph decreased slightly to $496,535 from $511,170 in October. It is normal to see a slight drop in the average sale price over November and December as buyers get pre-occupied with the holidays. Prices typically will quickly rebound in January as the market picks back up. The average sale price in Guelph is still up 8.6% year over year, which is a very healthy amount of appreciation. On average Guelph would appreciate 4 to 6%.

The number of active listings in Guelph dropped 25% from October to November. Inventory will likely continue to drop through December as houses that are on the market continue to sell but most new sellers will hold off until after the holidays to list their homes. Currently, we have 2 months of inventory on the market and houses are selling for an average of 98.8% of list price. This December is predicted to be a bit busier than others with investors and upsizers looking to get a firm purchase prior to January 1st in order to avoid the new mortgage rules.

Most predictions for the 2018 real estate market are for things to stabilize and prices to go up at a more modest rate. We are expecting a good healthy market but not the same crazy, overheated, market that we had in the first half of 2017. Typically we recommend listing in the earlier half of the year when there is less inventory and competition. However, the best time to sell does vary every year and depend on the type of home that you are selling. If your thinking of listing sometime within the next 12 months we would be happy to talk to you about timing the market and what you can do to get the most money out of your house.

Neighborhood Statistics

Below you will find a real estate 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!