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Home Buyers & Sellers

Guelph & Tri-City Housing Market Report – July 2022

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This video provides the Guelph & Tri City Housing Market Stats for the month of July, 2022. Despite what many real estate news headlines may be telling you, we are actually experiencing a balanced market for the first time since the pandemic began.  Let’s take a look at some of the key stats relative to July of last year:

Guelph Stats:

  • Median Sales Price was $710,000 – ↑ 4.4%
  • Average Sale Price per Sq.ft. was $414 – ↓6.3%
  • Total Number of Listings was 306 – ↑ 19.5%
  • Total Number of Sales was 153 – ↓ 35.2%

Tri-City Stats:

  • Kitchener: Median Sales Price was $632,500 – ↓ 4.3%
  • Waterloo: Median Sales Price was $585,000 – ↓ 15.2%
  • Cambridge: Median Sales Price was $640,000 – ↓ 11.3%

Of the four cities just mentioned, Guelph is the only one that is still showing year-over-year price increases.  However, I do expect that this will be the last month of price growth for Guelph for now.  With the number of new listings trending upward, and number of sales on the decline, prices will most certainly continue to trend downward for the time being.

The reality is that the current market slowdown is relatively normal for the summer months.  It will be interesting to see if September brings back buyers and reignites the market.  If so, it is my hope that it brings pricing stability and a balanced market that can easily be navigated by both buyers and sellers.

If you are considering a move in the near future, please feel free to reach out to me.  I would be happy to keep you informed about market conditions, market changes, and help you achieve your real estate goals.  Thanks for joining me, and enjoy the rest of your summer!

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