August Another Strong Month for Guelph Home Sales
According to statistics provided by the MLS® System of the Guelph and District Association of REALTORS®, home sales numbered 272 units in August 2013. This was an increase of 24 per cent from the same month last year.
Sales of all types of properties in the Guelph region numbered 282 units in August, up 21 per cent from year-ago levels.
"Home sales remain very strong, with demand in August marking a third consecutive year-over-year gain of more than 20 per cent." said Matthew Bennett-Monty, President of the Guelph and District Association of REALTORS®. "2013 is still in the running to set a new annual record. With four months left to go this year, year-to-date activity is still trailing the record year of 2007 by about three per cent. That said, 2007 had a bit of a weak last few months, so if demand can maintain even some of its current strength through the end of the year, it could easily be a photo finish."
Some 2,277 homes have traded hands so far this year. This is running five per cent ahead of the first eight months of 2012.
The average price of homes sold in August 2013 was $322,116, rising five per cent from levels in August 2012.
The residential dollar volume of sales in August 2013 was $87.6 million, up 30 per cent from the same month last year. The total value of all properties sold in August 2013 was $91.2 million, up 24 per cent on a year-over-year basis.
New residential listings numbered 376 units in August, up 22 per cent on a year-over-year basis. There were 708 active residential listings on the Association’s MLS® System at the end of August 2013, rising 13 per cent from a year earlier.
There were 2.6 months of inventory at the end of August 2013. This was down from 2.8 months at the same time last year and remains 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.guelphanddistrictrealtors.ca.
Market Stats September 2013