Guelph Real Estate

Well, here they are, the Guelph Real Estate Statics for the first half of 2010 and what a first half it was. As always, looking at the month to month comparison from June of 2009 to June 2010, the number were actually quite interesting. The dollar volume of sales were down 16 percent and the number of units sold were down almost 30 percent. However, the average price was up almost 20 percent from comparing June of 2009 and June 2010. Astonished I think is the correct word to use here!

What caused this drastic increase in the average price? When reviewing the figures, it appears that there was a significant increase in the amount of properties sold that were over the $500,000 price point which would have skewed the numbers up quite a bit. If these sales numbers were taken out of the equation, the figures would be down a fair amount and more in line with the trend that is starting to appear for the year.

Looking at the inventory levels, levels appear to be coming more in line with what we would normally see in a balanced market here in Guelph with modest gains of 3.5 percent and 4 percent respectively.

The year to date statistics are more in-line with how we expected the market to perform for 2010. Now that the HST is behind us and we see the hint of interest rate increases, we will see the market “level” out for the second half of the year. For the first half of 2010, we have seen a very healthy Real Estate market here in Guelph with the dollar volume up almost 30 percent, unit sale up 12.5 percent and the average price up almost 15% compared to the first half of 2009.

We are definitely experiencing the annual summer slowdown as people head out for vacation and off to the cottages while the children are out of school, but we expect to see things pick up again in early September, when everybody’s lives get back to the normal routine.

Month of June	2009	2010
Dollar Volume ($000)	87338.2	73345.2
Unit Sales	342	240
Average Price ($)	255,375	305,605
New Listings	426	411
Active Listings	849	815

Percent Change (%) June 2009 to June 2010 (Month to Month Comparison)

Dollar Volume	-16.0
Unit Sales	-29.8
Average Price	+19.7
New Listings	-3.5
Active Listings	-4.0

Number of Single Family Units Sold by Price

	June 2009	June 2010
000,000 - 149,999	35	16
150,000 - 199,999	49	21
200,000 - 249,999	88	50
250,000 - 299,999	87	52
300,000 - 349,999	41	38
350,000 - 399,999	16	23
400,000 - 499,999	19	21
500,000 and over	7	19

YEAR to DATE COMPARISON (2009 to 2010)

Year-to-Date	2009	2010
Dollar Volume ($000)	379999.0	491338.9
Unit Sales	1462	1645
Average Price ($)	259,564	298,005
New Listings	2601	2750
Active Listings	5213	4223

Dollar Volume	+29.3
Unit Sales	+12.5
Average Price	+14.8
New Listings	+5.7
Active Listings	-19.0

Source: Canadian Real Estate Association - Transactions through the Guelph and District Association of Realtors®

Please feel free to contact us anytime with any questions you may have regarding Real Estate here in Guelph.

Best Wishes,

David Weber

web: www.TomandDave.ca
email: tomanddave@homesinguelph.ca