Real Estate Market Update – end of November 2019

We’re almost at the end of 2019, so how are things shaping up after November numbers are considered?

The Wellington County real estate market is continuing to see increases in sales activity as we round the end of the fourth quarter of 2019.  Real estate sales activity remains solid in Guelph and Wellington County with unit sales almost matching inventory.

Click here for Market review video for end of November in Wellington County.Screen Shot 2019-12-16 at 10.03.39 AM

The year-over-year sales volume year to date is up by 22.01% over 2018 year to date numbers, and unit sales are up 13.57% YTD.  November sales volume is up 23.58% rising to over $143M last month over November 2018’s sales volume of $116M.

November’s unit sales are up by 11.66% with 249 units sold, over last November 2018’s unit sales of 223.  Further, with 272 new listings last month, the Sales to Listings ratio is up 17.79% at 91.54%.

The year-over-year median sales price at end of November is up 4.43% over same period in 2018.  It rose from $485,000 in 2018 to $500,000 at end of November 2019 for Wellington County.  And the trend of year-to-date average sales price continued to increase by 8.8% resulting in an average sales price of $577,531 at end of November 2019 vs. $530,436 just a year ago.

During this period, homes continued the trend of staying on the market slightly longer than 2018 sales, with YTD average days on market at 33.64 days at end of November 2019 versus 32 days at November 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: $617,612 (Average sales price at November 2019)

Condominium homes: $439,585 (Average sales price at November 2019)

Vacant land sales: $461,546 (Average sales price at November 2019)

This continues to show that Wellington County’s real estate market is still quite robust as we move into the end of 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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