2014 a record year for Guelph home sales
According to statistics provided by the MLS® System of the Guelph and District Association of REALTORS®, home sales numbered 177 units in December 2014. This was up 30.1 per cent from December in 2013, and marked the best December on record.
For all of 2014, a record 3,295 homes traded hands in the region. This was an increase of 4.1 per cent compared to 2013.
Sales of all types of properties in the Guelph region numbered 184 units in December, up 26.9 per cent from levels a year earlier.
Some 3,453 properties of all types were sold in 2014 an increase of four per cent from a year earlier.
“Despite having gotten off to a slow start, 2014 still managed the best year for home sales that the Guelph region has ever seen,” said Kimberley McKenzie, President of the Guelph and District Association of REALTORS®. “With sales booming and listings struggling to keep pace, prices have continued to climb. The annual average sale price rose 4.4 per cent in 2014 to $358,583.”
The average price of homes sold in December 2014 was $356,784, up 7.5 per cent from levels in December 2013.
The dollar volume of residential sales in December 2014 was $63.2 million, jumping 39.9 per cent from the same month in 2013.
The total value of all properties sold in December 2014 was $65.4 million, an increase of 36.5 per cent on a year-over-year basis.
New residential listings numbered 177 units in December, up 28.3 per cent on a year-over-year basis. There were 420 active residential listings on the Association’s MLS® System at the end of December 2014, down 1.2 per cent from a year earlier.
There were 2.4 months of inventory at the end of December 2014, down from 3.1 months a year earlier and well below the long-run average for this time of the year in the Guelph region. The number of months of inventory is the number of months it would take to sell current inventories at the current rate of sales activity.
The Guelph and District Association of REALTORS® represents more than 450 REALTORS® in Guelph and surrounding communities like Fergus and Elora. Additional information can be found on the Association's web site at www.GDAR.ca.
Market Stats January 16th 2015