Video Blog

This video provides a summary of the Guelph housing market stats for April of 2020.  Some of the figures may be a little surprising, while other metrics are as expected given the current environment. 

Key Market Metrics (relative to April 2019):

• Median Sales Price was $543,500 – ↑ 6.8%
• Median Days on Market now was 13 days – ↓ 1 day
• Total Number of Sales was 76 – ↓ 68.1%
• Total Number of Listings was 157 – ↓ 56.9%

The biggest surprise with these metrics is that despite the global pandemic, median sales price for the month of April was actually up by almost 7% relative to April, 2019.  Despite the industry largely coming to a pause, the homes that have sold still obtained strong offers.  It is also surprising that median days on market was down as well.  However, it is important to note that at the time this blog was written, the average days on market for all active homes in Guelph was 36 days.  In other words, the homes that sold during April sold relatively quickly, but the active homes on the market have been sitting for over a month on average.

The dramatic decrease in listings and sales was to be expected.  With the economy essentially being shut down, most buyers and sellers have decided to put their plans on hold for the time being.  With this said, the drop in listings and sales during the first two weeks of April was more significant than the drop during the last two weeks of April.  We actually started to see more listings and sales reported during the past two weeks.

It will be interesting to see what the month of May brings.  I expect that new listings and sales will remain lower than last years levels, but I feel that we will see an increase relative to this past month.

If you have any questions about the market, or are thinking about buying or selling, please feel free to reach out to me.  I am always here to help!