Video Blog

This video and report provides the Guelph & Tri-City Housing Market Stats for the month of July, 2023.  As predicted in my June analysis, market prices have dipped slightly over the past month in all of our local markets.  The following are some of the key month-over-month stats relative to June of this year:

Guelph Stats:

• Median Sales Price was $789,950 – ↓ 3.6%
• Average Sale Price per Sq.ft. was $542 – ↑ 0.7%
• Total Number of Listings was 261 – ↓ 15.3%
• Total Number of Sales was 158 – ↓ 16.8%

Tri-City Stats:

• Kitchener: Median Sales Price was $730,000 – ↓ 3.9%
• Waterloo: Median Sales Price was $770,000 – ↓ 0.6%
• Cambridge: Median Sales Price was $750,000 – ↓ 4.5%

CLICK HERE to view the full market stats report.

With the Bank of Canada interest rate increase in early June, coupled with a normal seasonal slowdown in the summer, it wasn’t difficult to predict that prices would come down in July.  And they did come down, but in a modest way.  The number of new listings and new sales also came down in all of our local markets relative to June.  But again, this is all to be expected in a ‘normal’ non-covid year.

Taking a glimpse into the year-over-year figures, we are still seeing sale price growth in the market.  Guelph prices have risen by 9%, while Kitchener, Waterloo, and Cambridge prices have risen by 3.5%, 9.8%, and 14.5% respectively.

While we are still considered to be in a seller’s market, the current seasonal trend and summer vibe is one of balance.  Seller’s are still able to sell their homes relatively quickly, and buyers are able to purchase with little competition in most circumstances.

I really feel that now is a good time to buy, sell, or buy and sell for those who are looking to upsize or downsize.  There are opportunities for everyone!  If you are thinking about making a move, please feel free to reach out to me.  I would be happy to help you.

Thanks for joining me, and have a great day!