227 residential properties sold through the Multiple Listing System (MLS® System) within the City of Guelph in July, representing an increase of 9.1 per cent compared to the same month last year.
Strong Guelph Home Sales Reported in July
Guelph home sales in July included 129 detached (up 13.2 per cent), and 45 condominium apartments (up 36.4 per cent). Sales also included 44 townhouses (same as July 2018) and 9 semi-detached homes (down 47.1 per cent).
The average sale price of all residential properties sold in July increased by 5.7 per cent to $537,304 compared to July 2018. Detached homes sold for an average price of $626,267 (an increase of 5.4 per cent compared to July of last year). During this same period, the average sale price for an apartment-style condominium was $376,530 for an increase of 12.7 per cent. Townhomes and semis sold for an average of $446,892 (up 2.1 per cent) and $508,050 (up 11.4 per cent) respectively.
The median price of all residential properties sold last month increased 6.9 per cent to $511,500 and the median price of a detached home during the same period increased by 5.6 per cent to $595,500. REALTORS® listed 324 residential properties in the City of Guelph last month, an increase of 18.7 per cent compared to July of 2018. The total number of homes available for sale in active status at the end of July totalled 367, an increase of 22.3 per cent compared to July of last year. Months Supply of Homes for sale stood at 2 months in July, which is 17.6 percent higher than the same period last year.
“The Summer heat wave is matching the real estate market,” says Adam Stewart, Real Estate Sales Representative with Chestnut Park. “We’re seeing strong consumer demand that is making for a busier than normal market for the middle of summer.”
The average days it took to sell a home in July was 24 days, which is one day less than it took in July 2018.
The information provided in this feature has been sourced by Adam Stewart, Real Estate Sales Representative with Chestnut Park Realty Southwestern Ontario Ltd. Brokerage. The information has been drawn from sources deemed to be reliable, but the accuracy and completeness of the information is not guaranteed. In providing this information, neither Adam Stewart, nor Chestnut Park Realty Southwestern Ontario Ltd. Brokerage assumes any responsibility or liability.
Adam Stewart is a Real Estate Sales Representative with Chestnut Park Realty Southwestern Ontario Ltd. Brokerage serving Guelph, Kitchener-Waterloo, Cambridge, Wellington County and Southwestern Ontario markets. Adam can be reached at 519-265-2602, online at www.adamstewart.ca, or by email at firstname.lastname@example.org.