Guelph Housing Market Stats – February 2020
This video provides a summary of the Guelph housing market stats for February of 2020. Below are some of the key market metrics (relative to February 2019):
- Median Sales Price was $585,259 – ↑ 20.7%
- Median Days on Market now at 11 days – ↓ 3 days
- Total Number of Sales was 218 – ↑ 60.3%
- Total Number of Listings was 249 – ↑ 23.3%
In January we incurred a moderate price increase of 3%. At the time, it didn’t seem accurate, as the market got off to a hot start.
Well, now the numbers are starting to reflect what we are seeing in the market place. While inventory was up by over 20% in February, Sales were up by over 60%. It’s simple supply and demand. The incredible demand is leading to supply issues once again. Hence the 20% price increase year-over-year. The market clearly needs more inventory, so if you are thinking about selling, now is a great time. But if you are in a position that you need to buy and sell, buying first may be your better option. Feel free to give me a call, and we can discuss your situation to figure out what is best for you.
