Mid-Month Guelph Housing Market Update – April, 2020
This video provides a mid-month summary of the Guelph housing market stats for April of 2020. The stats for the first 15 days of this month are starting to show the effects that COVID-19 is starting to have on the real estate market. With that said, below are some of the key market metrics (relative to the first 15 days of April, 2019):
- Median Sales Price was $544,000 – ↑ 6.5%
- Median Days on Market now at 13 days – ↓ 1 day
- Total Number of Sales was 25 – ↓ 79.5%
- Total Number of Listings was 79 – ↓ 56.1%
The numbers clearly indicate the market has dramatically shifted. With the number of sales being down by almost 80%, and the number of new listings down by close to 60%, the real estate market has essentially taken a time out.
It is interesting that median sales price is up, and median days on market are down by a day. Keep in mind that the sample size for these figures is very small right now, and this only accounts for homes that have actually sold. The median days on market for all active homes in Guelph (regardless of when they were listed) is now approaching 30 days.
We are seeing that the homes that are selling, are selling quickly. The few buyers that are actively looking, are qualified buyers who are selecting the most attractive homes on the market.
During this time of rapid change, I am committed to keeping you up to date on current market conditions. I will provide another Guelph housing market update once the final numbers are in for April, 2020. In the meantime, please feel free to reach out to me if you have any questions about the market. I would be happy to schedule a phone conversation, or virtual video meeting.
Take care and stay safe!
