2018 Fourth Quarter Market Update

The fourth quarter of 2018 was quieter than the same period of 2017, with year-over-year sales down by almost 9% and Unit sales down by 10.25%.

The last quarter of the year is typically a slower period of home sales, however, despite slowing the year-to-date sales rose 1.2% and the median sales price averaging 5.8% more than one year ago at $486,500 in Wellington County.

During this period, homes continued to stay on the market approximately 6 days longer over 2017 sales, with average Days on market at 33 days at end of December 2018.   Nonetheless, the Year-to-Date average sales price increased by 2.96% resulting in an average sales price of $531,026.

Overall, in 2018 we continued to see real estate sales prices rising across Wellington County.  The average year to date sales prices in Wellington county are listed below for each type freehold vs. condominium:

Freehold Homes: $569,192 (Avg sales price at Q4 2018)

Condominium homes: $383,721 (Avg sales price at Q4 2018)

However, vacant land sales saw a bit of a reduced average sales price at $437,163 for Q4 2018.

What this indicates is that Wellington County’s real estate market is holding steady with prices moderating and sales actdivity levelling out across the region.

If you’re considering selling your home or would just like to know the value of your home in today’s market, contact me here.  Alternatively, you can connect with me here for more information or detailed market reports for each of the areas in Wellington County: http://www.francessnider.com/guelph-m…

Click here to watch the Wellington County Real Estate Market Update video and to stay on top of the local market trends in Puslinch, City of Guelph, Centre Wellington, and Guelph/Eramosa.

 

 

 

 

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