Guelph Housing Market Stats – 2019 Year in Review
Hello and Happy New Year!
This video provides a quick summary of the Guelph housing market stats for all of 2019. Below are some of the key market metrics for 2019 (relative to 2018):
- Median Sales Price was $515,950 – ↑ 7.7%
- Median Days on Market now at 16 days – No Change from 2018
- Total Number of Sales was 2,262 – ↑ 8.6%
- Total Number of Listings was 3,163 – ↑ 3.7%
Overall, we find ourselves in a strong, but stable Seller’s market. Relative to Canada’s housing market as a whole, Guelph exceeded expectations and continues to lead most markets in terms of sales and price growth.
CLICK HERE full breakdown of the Guelph Housing Market Stats for 2019.
Please also read our market summary below. We have highlighted some key metrics as we look back on the year, and outlined our crystal ball thoughts for 2020.
Looking Back
It seems that 2018 was the year that the market took a breather. It would appear that buyers and sellers used 2018 to take stock, save money, and do renovations. In 2019, we witnessed an increase of 8.6% in the number of sales and a 7.7% increase in the median sales price within the city limits. Once again, detached homes represented the bulk of sales, at 54% or 1231 units. Condo apartments showed the biggest gain in market share, with a remarkable 23.9% increase to 399 sales. More about the condo market in our predictions for 2019.
While overall sales numbers were up in 2019, we still haven’t returned to the levels experienced in period from 2014 to 2016, in which yearly sales were over 2,400 homes for three straight years. Despite a growing population, the housing market – and the resale market, in particular – has not been able to keep up. With less inventory available, current owners are staying put until the “right” property comes on the market. Higher prices have also meant a segment of the population hasn’t been able to find anything affordable, yet.
Once again, the condo market has bucked the trend. 527 condos were listed in 2019, up 11.9% over 2018 and 27% more than in 2017. The condo market is gaining within Guelph, as the market shifts further to smaller and more affordable housing.
Our 2020 Crystal Ball
It seems that 2018 was the year that the market took a breather. It would appear that buyers and sellers used 2018 to take stock, save money, and do renovations. In 2019, we witnessed an increase of 8.6% in the number of sales and a 7.7% increase in the median sales price within the city limits. Once again, detached homes represented the bulk of sales, at 54% or 1231 units. Condo apartments showed the biggest gain in market share, with a remarkable 23.9% increase to 399 sales. More about the condo market in our predictions for 2019.
While overall sales numbers were up in 2019, we still haven’t returned to the levels experienced in period from 2014 to 2016, in which yearly sales were over 2,400 homes for three straight years. Despite a growing population, the housing market – and the resale market, in particular – has not been able to keep up. With less inventory available, current owners are staying put until the “right” property comes on the market. Higher prices have also meant a segment of the population hasn’t been able to find anything affordable, yet.
Once again, the condo market has bucked the trend. 527 condos were listed in 2019, up 11.9% over 2018 and 27% more than in 2017. The condo market is gaining within Guelph, as the market shifts further to smaller and more affordable housing.
Are you thinking about moving in 2020?
If you are in the market to buy or sell in 2020, please give me a call. I would be happy to help you achieve your Real Estate Goals.
