Guelph Housing Market Stats – May 2020
This video provides a summary of the Guelph housing market stats for the month of May, 2020. In a nutshell, housing prices are working their way back to where they were when the market was peaking back in March. Below are some of the key market metrics (relative to May 2019):
- Median Sales Price was $569,950 – ↑ 7.4%
- Median Days on Market now was 15 days – ↑ 1 day
- Total Number of Sales was 158 – ↓ 40.6%
- Total Number of Listings was 222 – ↓ 42.6%
Relative to the month of April, listings are up by 41.4% and number of sales are up by 102.6%. As restrictions related to the pandemic are being eased, the Guelph housing market is picking up momentum again. In fact, the median sales price of all homes sold in Guelph during the month of may was 4.9% higher than that of April.
Based on how the market is continuing to pick up momentum in June, I am confidently predicting that we will see another strong month for sellers in June. However, it will be interesting to see how things play out in July and August. These summers months normally slow down as people are taking time off and heading away on vacations. However, with COVID-19 compromising summer plans for so many families, we may just see an active market right through the summer.
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!
CLICK HERE to view May housing market stats for Guelph, Kitchener, Waterloo, and Cambridge
