Guelph Housing Market Stats – December 2020
This video provides a summary of the Guelph housing market stats for the month of December, 2020. It comes as no surprise that inventory continues to dwindle and competition remains fierce in the marketplace. Lets take a look at some of the key metrics (relative to December 2019):
- Median Sales Price was $620,000 – ↑ 19.2%
- Median Days on Market was 8 days – ↓ 13 days
- Total Number of Sales was 129 – ↑ 29.0%
- Total Number of Listings was 85 – ↑ 14.9%
Despite sales prices being slightly down relative to November of 2020, the year-over-year median sales price increase was over 19%. This has been caused by significant inventory issues in the local real estate market. On December 31, there were only 36 active homes listed in Guelph. This was an incredibly low number, with months inventory being less than a week. This means that if there were to be no new home listings, it would theoretically only take a week or so to sell all of the active homes on the market. I can tell you that at the time I produced this video, inventory was even lower.
As we look forward into the New Year, it is my hope that we see a significant influx of new listing inventory sooner than later. Otherwise, bidding wars will continue to be the norm, and prices will continue to skyrocket.
For those who are thinking about selling this year, the hot Spring real estate market came early this year. Despite the cold weather, the market for sellers is red hot! And for buyers, patience and persistence will be imperative for the foreseeable future.
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 here to help you!
