Real Estate Market Review for June 2020 Wellington County

Half of 2020 is now over and many are still wondering what is happening in Guelph Wellington county real estate after second quarter?  Despite the continued presence of Covid-19, Wellington County moves into the third quarter as a healthy, and more “normal” market. Sales and listing activity picked up substantially in June and sales prices continued to increase in the county. As a result, sales volumes have come closer to par with last year at this time.

June 2020 Second Quarter Review – Guelph Wellington Real Estate

The year to date sales volume for end of second quarter is still down slightly by 2.14% over 2019 numbers, where 2020 sales volume to date are at $988M at end of June over 2019 YTD sales volume of $1,010M.  The unit sales were at 1583 for the county which is 11.42% lower than June 2019 YTD numbers of 1787 units sold.

With the stay at home legislation being lifted and Stage 2 re-openings starting mid-month, unit sales were up 22.78% to 415 units for the month of June, and sales followed upward by 37.17% to $266M sold compared to last June 2019 sales of 338 units and $194M.   Further, with 558 new listings down 0.18%, and a 74.37% sales/listing ratio up 13.91%, the real estate market was showing some effects from anxious Buyers coming back to the market before sellers being ready to list.

This spike in buyer activity brings the year-over-year median sales price of $575,125 at end of June 2020 Q2 up 13.55% from 2019 median of $506,500 one year ago. It also rose to $590,000 for the month at close of June 2020 for Wellington County.  And year-to-date average sales prices continued that trend increasing 10.98% over 2019 resulting in an average sales price of $625,180 for YTD at end of June 2020 Q2 vs. $563,331 just one year ago.

Although 2019 saw a trend of homes staying on the market slightly longer than the previous year, 2020 is showing shorter average days on market at 29 days at end of June Q2 2020 versus 32.33 days at end of June 2019, so homes are moving a bit quicker on the market by the end of second quarter.

The first couple months of 2020 had been an incredible start for the real estate market and even with our Co-vid pause for a couple months, the real estate market and prices in Wellington County have not felt tremendous effects after lockdown. The average year to date sales prices in Wellington county for each type are:

Freehold Homes: $671,310 (Average sales price at end of Q2 – June 2020)

Condominium homes: $442,277 (Average sales price at end of Q2 June 2020)

Vacant land sales: $530,520 (Average sales price at end of Q2 – June 2020)

With our economy beginning to open up in June and even entering new re-opening stages in July, our numbers in the upcoming months may change, but, for now real estate prices in Wellington county are still holding strong and continue on the rise, and as always as a safe and secure investment.

Keep healthy, stay safe and enjoy your summer!

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.

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