Guelph Housing Market Stats – 2022 Year in Review
This video and report provides the 2022 Year in Review housing market stats for Guelph & local communities. We have completed an in-depth review of the market looking at many different metrics in our full report. If you are interested in taking a deep dive, please CLICK HERE to view the full report. With that said, I will cover a few of the key takeaways in this blog.
The following is a summary of some of the key metrics comparing 2022 to the 2021 market:
Guelph Stats:
- Median Sales Price was $820,000 – ↑ 12.8%
- Average Sale Price per Sq.ft. was $544 – ↑ 10.8%
- Total Number of Listings was 3,267 – ↑ 6.1%
- Total Number of Sales was 1,940 – ↓ 26.6%
Tri-City Stats:
- Cambridge: Median Sales Price was $775,000 – ↑ 6.2%
- Puslinch: Median Sales Price was $1,740,000 – ↑ 39.2%
- Guelph/Eramosa: Median Sales Price was $1,107,500 – ↑ 5.5%
- Centre Wellington: Median Sales Price was $888,944 – ↑ 16.2%
While these figures look impressive and perhaps shocking given recent news headlines about the housing market, there’s more to the story. Sales were down substantially from 2021, and gains made during late 2021 through to Q2 of 2022 have been erased. Sales were down throughout the region, with Guelph sales down to approximately 26%. It’s a big decrease compared to the spike in sales that was happening in early 2022. The reality is that sales numbers are now back in line with sales levels from 2016.
The supply of homes remained tight and was still nowhere near historical averages. Given consistently low inventory and months supply of inventory being less than three months, the market is still considered to be a seller’s market (technically, based on industry metrics). The Guelph market in particular has not gone over three months of supply in well over a decade.
It appears that the market has approached a more balanced state, and that it will likely become more constant throughout the year. There are opportunities for both buyers and sellers if you are willing to be prepared and patient, and jump when the right opportunity presents itself.
If you are considering a move or investing in real estate this year, please feel free to reach out to me. I would be happy to help you with your journey. Thanks for joining me, and Happy New Year!
