July is just over, most people expect to know how the real estate market in Guelph for July is?
In July, a total of 234 units of real estate transactions have sold, number of sales was down 29.31% compared to the same time of last year, and it's down 29.73% compared to last month. For all types of residential housing, the average price is $511,767, an increase of 14.20% compared to the same time of last year, and it was increased 1.45% compared to last month.
Sales
A total of 234 houses were sold and volume of sales is $118,286,828, through a MLS system in July, with a total of 400 houses of new listings, increased up16.96 compared to the same time of last year, and 637 units in existing housing units, increased up 17.74% compared to the same time of last year. In this July, average selling price and asking rates were 99.4%, which means that there is a room of 0.6% can be dropped from asking price. The market is changed from the strong seller’s market to buyer’s market now.
Price
In July, the average selling price for all types of residents was $511,767, an increase of 14.20% over the same period of last year, and increased for 1.45% compared to last month. The average selling price for single detached houses was $574,782, an increase of 7.83% over the same period of last year and increased 2.55% compared to last month. The average price of semi-detached houses was $447,347, an increase of 19.16% over the same period of last year and increase up for 4.10% compared to last month. The average selling price of the condominium is $302,979, an increase of 12.49% compared to the same period of last year, increased for 1.77%. Compared to last month. The average selling price of the town house is $380,647, an increase of 29.70% over the same period of last year, and increased for $1.12% compared to last month.
Active listings
In July, a total of 400 units of new listings, 16.96% increased up compared to the same time of last year but drop down for 30.07% compared to last month. Because a mount of listings have come more and more to the market, so it means that there are more and more properties available for the potential buyers to choose, and they will pick the right one to like to offer, as well, they also can place conditions with offers to ensure that they have purchase the perfect home. At the end of the month, 637 units were available on the market, increased up 17.74.1% compared to last year in July of 2016, increased up for 1.92% compared to last month. The average sales date of period was 23 days, reduced for 8 days over the same period of last year but there was 1 day increased compared to last month.
Based on above analysis, even if the amount of sales has been decreased, but the average price has increased. The interest rate announced on July 12 that all banks have adjusted prime rate of 0.25% up, but it won’t be effected the market much. We can see the real estate market is getting stable and healthy.
Statistics provided by Lisa Chou