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Home Buyers & Sellers

Guelph & Tri-City Housing Market Stats – April 2022

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This video provides the Guelph & Tri City Housing Market Stats for the month of April, 2022.  A shift in our local market is beginning to show itself.  With an influx of new listings and a lull in sales, prices have taken a moment of pause.  Let’s take a look at some of the key stats relative to April, 2021:

Guelph Stats:

  • Median Sales Price was $900,000 – ↑ 26.6%
  • Average Sale Price per Sq.ft. was $527 – ↑ 12.8%
  • Total Number of Listings was 452 – ↑ 14.7%
  • Total Number of Sales was 234 – ↓ 24.5%

Tri-City Stats:

  • Kitchener: Median Sales Price was $835,000 – ↑ 21.0%
  • Waterloo: Median Sales Price was $800,000 – ↑ 14.9%
  • Cambridge: Median Sales Price was $804,500 – ↑ 14.9%

While there are still significant price increases year-over-year for each of these local markets, median sale prices are down across the board relative to the previous month (March 2022).  The Guelph market is down by 1.8%, while Kitchener, Waterloo and Cambridge are down by 1.8%, 2.8%, and 8.1% respectively.

For each of these markets, the number of new listings are up month-over-month, while the number of sales are down.  The only exception to this was in Cambridge, where sales also increased.

With increasing inventory and less sales, it isn’t surprising to see a reversal in sale price momentum.  The unknown right now is whether this is a temporary change in the market, or whether prices will continue to come down with increasing interest rates and an altered market dynamic.

What we do know, is that those buyers who have struggled to enter the market are now seeing plenty of opportunity to do so.  If stopped looking for homes after being frustrated with the hot seller’s market, now may be a great time for you to continue your search to find a great home!

If you need any help along the way, please feel free to reach out to me.  I would be happy to help you.

Click the below image to view the full market report:

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