Guelph & Tri-City Housing Market Stats – April 2023
This video and report provides the Guelph & Tri-City Housing Market Stats for the month of April, 2023. For the fourth month in a row, we have seen housing price increases in most of our local markets. The following are some of the key stats relative to March of this year:
Guelph Stats:
- Median Sales Price was $795,000 – ↑ 7.1%
- Average Sale Price per Sq.ft. was $530 – ↑ 3.7%
- Total Number of Listings was 221 – ↓ 11.6%
- Total Number of Sales was 180 – ↓ 2.7%
Tri-City Stats:
- Kitchener: Median Sales Price was $750,000 – ↑ 2.7%
- Waterloo: Median Sales Price was $786,500 – ↑ 5.8%
- Cambridge: Median Sales Price was $740,000 – ↑ 7.9%
For the fourth straight month, we have experienced median price increases. You would think that this has been caused by a ‘normal’ increase in Spring activity, which is true for Kitchener, Waterloo, and Cambridge. However, in Guelph it is a slightly different story. The number of sales in Guelph actually dropped 2.7% last month from March. The price increase in Guelph was caused by a much lower amount of new listings that hit the market.
Relative to April of last year, housing prices and activity levels are down across the board. Guelph, Kitchener, and Cambridge prices are all down by 10-15%, respectively. In Waterloo, however, prices are only down by 3.7%.
The are two consistencies in all of our local markets. Both number of new listings and number of sales are down significantly relative to April of last year. Demand is down a little bit, and inventory levels are down significantly. This doesn’t come as a surprise, as the downturn in the market didn’t happen until May of last year.
If you are thinking about a move, now is a good time. Our homes are finally getting our curb appeal back after a long winter, so buyers can see what they are buying. And relatively speaking, this time of year offers the greatest amount of choice for buyers and sellers. Timing is also good for those who are also looking for a summer move before the new school year.
If you are considering a move, please feel free to reach out to me. I would be happy to help you out! Thanks for joining me, and have a great day!
CLICK HERE to view the full stats report.