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Home Buyers & Sellers

Guelph & Tri-City Housing Market Stats – Q1 2022

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This video provides the Guelph & Tri City Housing Market Stats for the first Quarter of 2022. As we wrap up the first quarter and head into the Spring Market, we’re seeing early signs of a cooling market. Below are some of the key metrics relative to Q1 2021:

Guelph Stats:

  • Median Sales Price was $905,500 – ↑ 28.8%
  • Average Sale Price per Sq.ft. was $574 – ↑ 26.4%
  • Total Number of Listings was 1,004 – No Change
  • Total Number of Sales was 719 – ↓ 9.6%

Tri-City Stats:

  • Kitchener: Median Sales Price was $865,050 – ↑ 26.8%
  • Waterloo: Median Sales Price was $880,800 – ↑ 25.4%
  • Cambridge: Median Sales Price was $880,000 – ↑ 25.7%

While the number of new listings reflects a healthy start to the year, the decrease in the number of homes sold is providing buyers with more choice. As the gap between the number of new listings and the number of homes sold widened in Q1, we experienced an immediate correlation in pricing. The median sale price plateaued since it peaked at $915,000 in January, and has dropped slightly to $906,000.

In all four of our local urban markets, we’re seeing market conditions drop from Hot Seller’s Markets to Seller’s Markets, which are defined in the full report attached down below. It’s not exactly the balanced market we’d like to see further down the road, but some buyers are feeling relief from the red hot conditions we’ve been experienced throughout the pandemic.

The big question now is: will these trends be sustained? Will we see new listings continue to flow into the marketplace throughout the Spring, or has the Spring peak happened early this year?

Feel free to reach out to me for real-time market updates, or if you are thinking about buying or selling this year.

Click the image below for the full market report.

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