For the second month in a row, Guelph prices have increased slightly. And with the Bank of Canada rate drop, we may see continued price growth as we head into the summer. Let’s take a look at the key month-over-month Guelph & Tri-City housing market stats relative to April of this year:

Guelph Stats:
Median Sale Price was $785,000 - ↑ 1.5%
Average Sale Price per Sq.ft. was $497 – ↓ 2.9%
Total Number of Listings was 383 - ↑ 19.7%
Total Number of Sales was 187 - ↑ 8.7%

Tri-City Stats:
Kitchener: Median Sale Price was $740,000 - ↑ 0.7%
Waterloo: Median Sale Price was $800,000 - ↓ 1.1%
Cambridge: Median Sale Price was $745,555 - ↑ 0.6%

In May, Guelph's real estate market showed some interesting trends that highlight both growth and ongoing fluctuations. Home sale prices edged up by 1.5% compared to April, indicating that buyers are still willing to pay more for properties, even amidst broader market shifts. However, when we look at the same period last year, there was a 5.9% decrease in prices.

New listings in May reached a total of 383, which is a significant 19.7% increase from April 2024. This influx of new properties suggests that sellers are confident and eager to enter the market. Compared to last year, new listings have risen by 35.8%, showcasing an even more substantial boost in market activity.

Sales in May totalled 187 homes, marking an 8.7% increase from the previous month, which shows a healthy buyer interest and activity. However, there's an 8.3% decrease in sales compared to last year, indicating some yearly fluctuation in buyer activity and generally less demand.

Overall, these statistics tell the story of a resilient real estate market in Guelph. Home prices are steadily increasing month over month, and there is a significant influx of new listings, signalling confidence among sellers. While there are some yearly fluctuations in sales and prices, the long-term trends show growth and stability, making Guelph a robust and attractive market for both buyers and sellers.

If you are considering buying, selling, or making a move, please feel free to reach out to me. Thanks for joining me, and have a great day!

Click below to view the full report:
https://drive.google.com/file/d/15P3A...

Jeff Moisan
Real Estate Broker
Keller Williams Home Group Realty
[email protected]
519-760-3227
jeffmoisan.com