The first month of January 2019 brings a healthy start to the Wellington County real estate market as we moved into a healthy balanced market. The year-over-year sales volume is up by 11.85% and unit sales are up by 7.3%, over the same period in 2018.
The median sales price is up 3.7% from January 2018. It rose from $467,500 in 2018 to $485,000 for January 2019 in Wellington County.
During this period, homes continued to stay on the market approximately 7 days longer over 2018 sales, with average Days on market at 42 days at end of January 2019. Regardless, the year-to-date average sales price still increased by 4.22% resulting in an average sales price of $524,934 at end of January.
Overall, in 2018 we continued to see real estate sales prices rising across Wellington County and this trend is continuing into the start of 2019. The average year to date sales prices in Wellington county are listed below for each type freehold vs. condominium:
Freehold Homes: $559,042 (Avg sales price at January 2019)
Condominium homes: $395,381 (Avg sales price at January 2019)
Vacant land sales: $415,000 (Avg sales price at January 2019)
This continues to show that Wellington County’s real estate market is holding steady as we move into a more balanced market in the area.
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-market-update/guelph-market-update-2019
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