Issue 165 | Guelph Weekly Sales Summary
August 2nd, 2019 Sales Summary
The week and month in review:
53 home owners put a sold sign on their front lawns this past week. That is a 10.4% increase over the same time period as last year. The median home sold in Guelph this past week looked like this:
3 beds, 2 baths, 1,263 square feet and sold for $515,000. That home took 21 days to sell and sellers were able to negotiate 98.4% of their original list price.
Compared to the median house sold the same week in 2018 which was 3 bed 2 bath, 1,419 sqft and sold for $540,000. That home last year took 23 days to sell and sellers got 97.78% of their list price. Keep in mind that prices will vary from week to week so the sharp change in price above is more reflective of the larger median house size in 2018 rather than the sales price is down.
In fact, when you step back and look at the numbers over the past few years the number of homes sold in Wellington County in July 2019 stood at 328 which is a healthy 11.2% increase over the same month in 2018.
The trend is very much in line with 4 of the past 5 years of sales history. Sales in 2018 for our area peaked in June at 309 homes that month and then gradually declined to a 5+ year low in December at 128 homes sold.
Looking at the chart of sales for the past 5 years, it would appear that in 2018 most of the market took the summer off. Yet, when I look at the median sales price chart, prices have been making a steady climb back up towards the peak from April 2017 of $547,000. In Wellington County the median sales price for July was $516,950 up 4.4% from July of 2018.
Taking a look at the regional market.
You can see the interactive charts on our Market Statistics webpage.
In 3 of the 4 markets prices peaked this year in May and have dipped slightly since then. That is with the exception of Cambridge which defied the trend and prices rose through June to peak at $485,500 in July.
Interestingly, the number of homes sold in July dipped from June with the exception of Guelph which bumped monthly sales in July up by 15 over the June sales numbers.
In all four of our regional markets the numbers are following very similar patterns. The sinus rhythm beating strong and steady which to me signifies a housing market that continues to provide a safe investment environment and more important a stable and great area for families to make a home.
Watching the sunrise this morning on another brilliant summer day made me feel grateful for what we enjoy in this city and region. Our little brokerage is approaching it’s 8th birthday in November and I can’t help but be grateful to all the clients and agents that have helped us grow over the years. Our team has worked hard over the years to ensure our clients receive the best possible advice and guidance throughout their real estate experience. The payoff is consistently high ratings and testimonials from satisfied buyers and sellers.
As we go into the long weekend and take a bit of time off to relax with family and friends and enjoy the summer, we hope you take some time to enjoy your family’s journey and success.
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