MARKET UPDATE FOR GUELPH
August is usually the second slowest month of the year for real estate after December and last month was no different. The number of sales for Guelph in August (166) decreased 20% from the previous month. The average sale price increased $20K to $752,500 or $508 per square foot. The average time on market for MLS sales stayed about the same, 16 days. Sellers received on average 105% of their asking price which means that homes were still selling slightly more than asking price on average.
Going forward into September, there are only 102 active listings which represents about 3 weeks worth of housing inventory. The market should start to heat up again once we get past back-to-school time and the election so expect a busy October/November.
HOUSING AFFORDABILITY AND THE 2021 FEDERAL ELECTION
It should come as no surprise that affordability in the Canadian housing market has become a key issue in the upcoming federal election. According to a recent RE/MAX report, 42 per cent of Canadians said the high cost of housing was preventing them from entering the housing market, and 48 per cent shared concerns over their ability to afford a home in the next two years. This concern was significantly higher among young Canadians aged 18 to 34, with 71 per cent of them sharing this sentiment.
https://blog.remax.ca/canadian-housing-market-needs…/
Are you thinking of making a move? Put RE/MAX, real estate’s premier brand and my 20+ years of real estate experience to work for you! Call/text/email/DM me and let’s get started with a free home evaluation and custom marketing plan!
Dean Manton Broker
RE/MAX Real Estate Centre Inc
519-716-4663
dean@mantonteam.com
reasonstohiredean.com
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