Real Estate Market Review for June 2020 Wellington County

The year to date sales volume for end of September 2020 is up by 18.68% over 2019 numbers, where 2020 sales volume to date is at $1.866B at end of September over Q3 2019 YTD sales volume of $1.572B.  The unit sales were at 2878 for the county which is up 4.77% over September 2019 YTD numbers of 2747 units sold.

With the presence of Co-Vid still apparent, and everything re-opened during third quarter, unit sales were up 56.16% to 456 units for the month of September, and sales volume followed upward by 86.51% to $327M sold compared to last September 2019 sales of 292 units and $175M.   Further, with 545 new listings up 4.14%, and a 83.67% sales/listing ratio up 23.73%, the real estate market continued to showing some major effects from anxious and excited Buyers looking to get into the market before sellers were ready to list this summer.

This continued spike in buyer activity brings the year-over-year median sales price of $587,357 at end of third quarter September 2020 up 13.62% from 2019 median of $516,950 just one year ago. The Median sales price also rose to $650,000 for the month at close of September 2020 for Wellington County.  And year-to-date average sales prices continued that trend increasing 12.48% over 2019 resulting in an average sales price of $642,503 for YTD at end of third quarter in September 2020 vs. $571,194 just one year ago.

Although 2019 saw a trend of homes staying on the market slightly longer than the previous year, 2020 is continuing to show shorter average days on market at 28.3 days at end of September 2020 versus 33 days at end of September 2019, so homes are still moving a bit quicker on the market and in less than a month on average.

Even with our Co-vid pause for a couple months, the first three quarters of 2020 show how resilient the real estate market and prices in Wellington County have been. The average year to date sales prices in Wellington county for each type are:

Freehold Homes: $701,436 (Average sales price at end of Sept 2020)

Condominium homes: $459,517 (Average sales price at end of Sept 2020)

Vacant land sales: $490,394 (Average sales price at end of Sept 2020)

With our economy reverberating from the Pandemic and now with the onset of the second wave of Co-Vid affects, things may change slightly. But, for now real estate prices in Wellington county are holding strong and continue on the rise, and as always as a safe and secure investment.

Keep healthy, stay safe and enjoy the fall y’all!

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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