Guelph Wellington county real estate is thriving and busy in the midst of the dog days of summer 2020. With a very healthy market, we have been continuing to experience more sales activity than listing activity, despite the continued presence of Covid-19. Wellington County started the third quarter with listing activity down compared to last July, however, sales volume doubled as sales prices continued to increase.
The year to date sales volume for end of July 2020 is up slightly by 6.66% over 2019 numbers, where 2020 sales volume to date is at $1.288B at end of July over 2019 YTD sales volume of $1.208B. The unit sales were at 2044 for the county which is 4.31% lower than July 2019 YTD numbers of 2136 units sold.
With the stay at home legislation being lifted and Stage 3 re-openings during the month, unit sales were up 32.95% to 464 units for the month of July, and sales volume followed upward by 52.64% to $301M sold compared to last July 2019 sales of 349 units and $197M. Further, with 448 new listings down 11.64%, and a 103.57% sales/listing ratio up 34.74%, the real estate market continued to showing some major effects from anxious Buyers looking to get into the market before sellers being ready to list this summer.
This spike in buyer activity brings the year-over-year median sales price of $576,250 at end of July 2020 up 13.44% from 2019 median of $508,000 just one year ago. The Median sales price also rose to $599,000 for the month at close of July 2020 for Wellington County. And year-to-date average sales prices continued that trend increasing 11.53% over 2019 resulting in an average sales price of $628,754 for YTD at end of July 2020 vs. $563,777 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 28.86 days at end of July 2020 versus 32 days at end of July 2019, so homes are still moving a bit quicker on the market.
The first half of 2020 had been an incredible start for the real estate market particularly 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 and reopening. The average year to date sales prices in Wellington county for each type are:
Freehold Homes: $678,453 (Average sales price at end of July 2020)
Condominium homes: $447,875 (Average sales price at end of July 2020)
Vacant land sales: $514,817 (Average sales price at end of July 2020)
With our economy finalizing re-opening in July, and returning to a new normal, our numbers in the upcoming months may change, 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 rest of your summer!
CONNECT WITH FRANCES:
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.
For detailed reports, please visit http://www.francessnider.com/guelph-market-update/guelph-market-update-2020 for City of Guelph, Wellington County, Puslinch, Fergus, and Guelph-Eramosa area reports.