Opportunities and Optimism for Buyers and Sellers
The Guelph real estate market continued to show robust recovery in October, with 298 homes sold—a 22.6% increase compared to last year. This steady growth in sales activity signals renewed interest from buyers and sellers alike, as well as the positive impact of recent Bank of Canada rate cuts on affordability.
Key Highlights:
- Strong Sales Gains: October sales were up by 22.6% year-over-year, making it one of the most active Octobers in recent years.
- Record New Listings: With 592 new listings—an October record—sellers are eager to make the most of this renewed demand, and buyers have a wider range of options than ever.
- Home Prices Steady: The average sale price for October was $929,430, a 7.7% increase from last year, highlighting the continued value and demand in the Guelph area.
Pricing Trends
The overall MLS® HPI composite benchmark price in Guelph was $799,200, a small 1.7% decrease from last October. Single-family homes, with a benchmark price of $900,500, showed minimal changes year-over-year, demonstrating stability in the market. Townhouses and condos remain attractive options, with modest price shifts that make these properties particularly appealing to buyers looking to maximize affordability.
Increased Inventory and Buyer Opportunity
With inventory levels up 11.4% and new listings at record highs, Guelph offers more options for buyers than in previous years. The months of inventory, currently at 3.2, ensures that buyers have the time to explore the market and make well-informed decisions.
Looking Ahead with Chestnut Park West
At Chestnut Park West, we’re here to support you in every step of your real estate journey. Whether you’re buying your first home, investing, or selling your property to capitalize on the strong demand, our team of expert REALTORS® has the insights, tools, and dedication to help you achieve your goals.
Ready to take advantage of the current market opportunities? Contact us today to learn more about finding your dream home or listing your property in Guelph.
The information has been drawn from sources deemed to be reliable, but the accuracy and completeness of the information is not guaranteed. In providing this information, Chestnut Park Realty Southwestern Ontario does not assume any responsibility or liability.
