Hope you are doing well. Below you will find a market update report which will provide you with information on the local real estate market and recent sales activity in your specific area. Let us know if you have any questions or if you are ready to move forward with the next step!
January Market Update For Guelph
The Guelph real estate market is crazier than ever. There are currently 97 active listings on the market in Guelph which is extremely low. This time last year we had over 260 active listings and that was still a strong seller’s market.
The new mortgage rules put into place in late 2016 have further reduced the affordability in the GTA which has led to an increased amount of buyers relocating to Guelph. This increased demand and low inventory have resulted in many multiple offer situations. We are seeing houses sell for record prices extremely quick!
The average list to sale price ratio has risen to 104.6% and days on market has dropped to 18 days. The government policies and cold weather don’t seem to be putting a dent in the hot market.
CMHC has issued a warning that pricing increases are outpacing inflation, salary increases, and migration. This means they are speculators/investors hiking up demand and prices while keeping inventory low. This bubble will eventually burst but it doesn’t appear to be in the short term.
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
Click here for Active/Solds In This Area
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
Click here for Active/Solds In This Area
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 January feel free to contact The GoWylde Team.
If you would like a free online home evaluation click here