May 2019 Real Estate Market Update for Wellington County

The Wellington County real estate market has rebounded substantially from a sluggish start with sale prices, inventory, and unit sales continuing to increase as we move into June 2019.

The year-to-date sales volume is $814,148,652 and is up 18.4% from 2018’s $687,605,229.  May sales volume is up by 41.06% with $238,242,298, up from May 2018’s sales volume of $168,896,181.  Unit sales  of 414 are up 30.6% from last May’s 317 unit sales in 2018.

The median sales price is up compared to May 2018.  It rose from $468,750 in 2018 to $490,000 at end of May 2019 in Wellington County.

During this period, homes continued to stay on the market approximately 2.5 days longer over 2018 sales, with average Days on market at 32.2 days at end of May 2019 versus 29.8 days at May 2018.  Regardless, the year-to-date average sales price still increased by 5.23% resulting in an average sales price of $560,403 at end of May 2019.

Overall, we continue 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: $606,685 (Average sales price at May 2019)

Condominium homes: $392,500 (Average sales price at May 2019)

Vacant land sales: $461,294 (Average sales price at May 2019)

This continues to show that Wellington County’s real estate market is holding steady as we move into our 2019 Summer real estate market.

If you’re considering selling your home or would just like to know the value of your home in today’s market, contact me via email, or call me at 519-824-9050 ext. 235.

Alternatively, you can connect with me here for more information, or to view 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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