Guelph Housing Market Stats – November 2020
This video provides a summary of the Guelph housing market stats for the month of November, 2020. Our Real Estate Board changed our data system a few months ago, which created complications with compiling accurate and reliable stats. I am now confident that we have accurate stats, so I will carry on with these update videos each month. Needless to say, the market has continued to strengthen, and remains a very hot sellers market. Lets take a look at some of the key metrics:
– Median Sales Price was $631,000 – ↑ 21.4% (relative to November 2019)
– Median Days on Market was 9 days – ↓ 14 days
– Total Number of Sales was 201 – ↑ 17.6%
– Total Number of Listings was 179 – ↑ 6.6%
Relative to November of last year, the number of new listings increased just slightly. However, with the massive influx of buyers in the market, the number of sales increased significantly. This has led to less the 1 month of inventory supply, bidding wars on the majority of homes that sold, significant prices increases, and reduced time to sell.
As we head into the holiday season, there doesn’t seem to be any indication that buyers are becoming fatigued and exiting the market. As such, it appears that we will continue to see prices continue to rise for the foreseeable future.
CLICK HERE for a full analysis of the market stats:
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!
