Real Estate Market Update for Wellington County August 2019

 

The Wellington County real estate market is considered in a Balanced Market at this time, as we move into the end of the third quarter of 2019.  Real estate sales activity has slowed down from prior months while prices are continuing to increase in the area.

The year-over-year sales volume is up by 13.92%, however, August sales volume was down 4.73% over 2018 numbers.  Correspondingly, year to date unit sales are up by 6.68%, over the same YTD period in 2018, however, down 22.37% for August 2019 (over August 2018 numbers).  Click here for video Market review for August.Screen Shot 2019-09-16 at 2.04.04 PM

The year-over-year median sales price is up 3.66% over same period in 2018.  It rose from $473,750 in 2018 to $495,000 at end of August 2019 in Wellington County.  And the trend of year-to-date average sales price continued to increase by 6.55% resulting in an average sales price of $567,657 at end of August 2019 vs. $532,740 just a year ago.

During this period, homes continued to stay on the market slightly longer than 2018 sales, with YTD average days on market at 32.5 days at end of August 2019 versus 31.5 days at August 2018.

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

Freehold Homes: $609,485 (Average sales price at August 2019)

Condominium homes: $396,974 (Average sales price at August 2019)

Vacant land sales: $476,960 (Average sales price at August 2019)

This continues to show that Wellington County’s real estate market is still quite healthy and moving towards a Balanced market as we move into the 2019 fall real estate market.

If you’re considering a move, or purchasing a home in the Guelph area, call me at 519-824-9050 ext. 235 or contact me here:

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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