Canadian Real Estate Prices Expected to Rise 9.2% in 2022. RE/MAX is anticipating steady price growth across the Canadian real estate market in 2022, with inter-provincial migration continuing to be a key driver of housing activity in many regions, based on surveys of RE/MAX brokers and agents, as reflected in the 2022 Canadian Housing Market Outlook Report. The ongoing housing supply shortage is likely to continue, putting upward pressure on prices. As a result of these factors, RE/MAX Canada estimates a 9.2-per-cent increase in average residential sales prices across the country.MARKET UPDATE FOR GUELPH
Judging by November’s market activity, it doesn’t appear that the real estate market will cool down much in December this year as the inventory of homes for sale is at an all time low and demand remains high. The number of sales for Guelph in November (184) decreased slightly from October but sales remained relatively robust. The average sale price increased to $846,000 or $526 per square foot. This stat included all residential sales, condos etc. The average time on market for MLS sales increased slightly to 13 days but sellers received on average 112% of their asking price which means that homes were still selling significantly more than asking price on average.
Going forward into December, there are only 54 active listings which is record low housing inventory. This low inventory, high demand, seller’s market will continue to rule for the remainder of the ear and beyond.
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
