Guelph Housing Market Stats – June 2021
This video provides a summary of the Guelph housing market stats for the month of June, 2021. The numbers are still hot, but the market cooled down ever so slightly this past month. Lets take a look at some of the key metrics (relative to June, 2020):
- Median Sales Price was $699,900 – ↑ 20.3%
- Median Days on Market was 7 days – ↓ 5 days
- Total Number of Sales was 277 – ↑ 8.2%
- Total Number of Listings was 324 – ↓ 1.8%
CLICK HERE to view the full June and Q2 Market Stats Report.
In general, it is still a hot sellers market and the numbers are up significantly year-over-year. However, prices dipped by almost 6% in June relative to May of this year. I wouldn’t expect this dip to be a sign of a cooling market, as the number of new listings are down relative to the number of sales. With low inventory and steady demand, I expect that we may see modest price growth in July.
For buyers, now is an excellent time to find a home. The market tends to slow down in July and August, as many buyers and sellers are spending their vacation time and are focused on enjoying the summer. This, coupled with prices that have dropped slightly, are presenting an opportunity for buyers to purchase without as much competition.
For sellers, it is still a hot market to sell in. Over half of the sales are still achieving greater than list price, and inventory levels are still very low. Sellers just need to be careful about how they list, as bidding wars are becoming a little less aggressive. It is important to choose a pricing strategy that finds the right risk/reward balance for you.
If you have any questions about the market, or are thinking about buying or selling, please feel free to reach out to me.
