Where did the month of January go? Here we are already the middle of February and 2020 is off to a roaring start!
The new year and decade started on a positive note in and around Wellington County. While there was a decrease in listing activity, there was an increase in sales activity which pushed prices upward in the area.
Click here for Market review video for end of January 2020 in Wellington County.
The year-over-year sales volume year is up by 20.24% over 2019 numbers, and unit sales were up to 194 for the county which is 9.6% over January 2019 numbers (177). January sales volume rose to $111M last month over January 2019 sales volume of $92.5M.
January’s unit sales were up compared to previous months sales, where 194 units sold, over December 2019’s unit sales of 153. Further, with 340 new listings last month, the Sales to Listings ratio was at 57.06% for January month end. Which is approx. 13% from last January but down from December 2019 numbers.
The year-over-year median sales price at end of January 2020 is up 4.79% over 2019 numbers. It rose from $480,000 in January 2019 to $503,000 at end of January 2020 for Wellington County. And year-to-date average sales price continued that trend increasing 10.27% over 2019 resulting in an average sales price of $576,809 at end of January 2020 vs. $523,093 just a year ago.
During 2019, we saw a trend of homes staying on the market slightly longer than the previous year, however, with average days on market at 31 days at end of January 2020 versus 42 days at January 2019, looks like homes are moving a bit quicker on the market as we ramp up into this decade.
This is a good start to the year for the real estate market and 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: $626,778 (Average sales price at end of Jan 2020)
Condominium homes: $432,945 (Average sales price at end of Jan 2020)
Vacant land sales: no vacant land sales during the month (Average sales price N/A)
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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