Real Estate Market Update for Wellington County end of October 2019

Are you ready for the real estate market snapshot?

The Wellington County real estate market is still quite healthy in the midst of the fourth quarter of 2019.  Real estate sales activity remains solid in Guelph and Wellington County with steady sales activity and prices continuing to increase in the area.

Click here for Market review video for end of October in Wellington County.Screen Shot 2019-10-12 at 6.30.13 PM.png

The year-over-year sales volume year to date is up by 21.13% over 2018 year to date numbers, and unit sales are up 13.69% YTD.  October sales volume is up 45.59% rising to over $206M last month over October 2018’s sales volume of $133M.

Correspondingly, October’s unit sales are up by 24.52% with 325 units sold, over October 2018’s unit sales of 261.  Further, with 409 new listings last month, the Sales to Listings ratio is up 5.71% at 79.5% vs. 73.75% Sales to listings ratio in October 2018.   However, expired listings are also up 21.13% year to date over 2018 numbers.

The year-over-year median sales price at end of October is up 3.38% over same period in 2018.  It rose from $481,250 in 2018 to $497,500 at end of October 2019 in Wellington County.  And the trend of year-to-date average sales price continued to increase by 8.7% resulting in an average sales price of $577,670 at end of October 2019 vs. $531,450 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 33.2 days at end of October 2019 versus 32 days at October 2018.

Overall, we continue to see the trend of real estate sales prices continuing 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: $618,498 (Average sales price at October 2019)

Condominium homes: $401,723 (Average sales price at October 2019)

Vacant land sales: $454,748 (Average sales price at September 2019)

This continues to show that Wellington County’s real estate market is still quite healthy as we move further into the fourth quarter of 2019.

If you’re considering a move, or purchasing a home in the Guelph area, let’s chat! You can reach me at 519-824-9050 ext. 235 or email me.

Alternatively, you can connect with me here for more information or click here to view detailed market reports for each of the areas in Wellington County.

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