Guelph Housing Market Stats – November 2021
This video provides a summary of the Guelph housing market stats for the month of November, 2021. Dramatically low inventory levels coupled with steady buyer demand is resulting in continued price growth. Lets take a look at some of the key metrics (relative to November, 2020):
- Median Sales Price was $810,500 – ↑ 29.5%
- Average Sale Price per Sq.ft. was $501 – ↑ 23.4%
- Total Number of Listings was 217 – ↑ 12.4%
- Total Number of Sales was 207 – ↓ 2.4%
While the supply (number of new listings) has been decreasing month-over-month across the region in the freehold market (mostly detached and semi-detached homes), the demand (number of home sales) has also been waning. This balance has kept prices relatively stable in the short-term, and we don’t expect a major deviation from this trend in the coming months.
That said, the situation looks a bit different in the condominium market (which includes apartment-style condos, as well as most townhomes). While almost every other area of our local markets are seeing the number of home sales down month-over-month and year-over-year, the demand for condos has increased across the board. Perhaps a sign of the persistence of first-time home buyers to enter the market, and only time will tell if we will see significant price increases in this segment of the market as we move through the winter months.
As we head into December of 2021, we expect the number of active listings to decline from November’s listing levels. At the same time, we are wary of that number plummeting too far down, as it may lead to another early 2022 price spike.
If you are considering buying or selling in 2022, please feel free to reach out to me. I would be happy to discuss your Real Estate goals and objectives with you.
CLICK HERE to view the full Market Report for November 2021, which includes a full statistical analysis of both Guelph, Wellington County, and Waterloo Region.
