Welcome to 2020! A new year, a new decade but is it a new real estate market?
There was strong demand for home sales in Wellington County to the end of the year with sales activity passing listing activity and sales prices and sales volumes increasing, continuing the trend of increasing price levels in the area.
Real estate sales activity remains solid in Guelph and Wellington County as we head into the new year and new decade in 2020.
The year-over-year sales volume year is up by 22.4% over 2018 numbers, and unit sales were up to 3,476 for the county which is 13.82% over 2018 year end numbers. December sales volume was up 29.85% rising to over $90M last month over December 2018’s modest sales volume of $69.3M.
December’s unit sales were down compared to previous months sales, however, were up by 18.6% with 153 units sold, over last December 2018’s unit sales of 129. Further, with only 128 new listings last month, the Sales to Listings ratio was at 119.53% for December month end.
The year-over-year median sales price at end of December 2019 is up 3.51% over 2018 year end numbers. It rose from $485,000 in 2018 to $502,000 at year end in 2019 for Wellington County. And the trend of year-to-date average sales price continued to increase by 8.96% resulting in an average sales price of $578,590 at end of 2019 vs. $531,026 just a year ago.
During this period, homes continued the trend of staying on the market slightly longer than 2018 sales, with average days on market at 34.42 days at end of 2019 versus 33 days at end of 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: $618,685 (Average sales price at end of 2019)
Condominium homes: $403,910 (Average sales price at end of 2019)
Vacant land sales: $460,043 (Average sales price at end of 2019)
This continues to show that Wellington County’s real estate market is still quite robust as we move into the new decade and new year in 2020.
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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