In September, the Guelph real estate market showed promising recovery, with 274 homes sold, a 22.3% increase from last year. While sales are still below the 5- and 10-year averages, it’s clear that buyers are returning, albeit gradually. The increase in active listings, which are at their highest level in a decade, gives buyers more opportunities to explore the market.
The average sale price of homes was $889,435, reflecting a slight 5.3% decrease from 2023, and the benchmark price for single-family homes is now $897,100. Townhouses and condos also saw moderate price decreases, but with the Bank of Canada lowering rates, both buyers and sellers have reason to feel optimistic.
Although the market remains dynamic, Chestnut Park West can help you navigate these changes. Whether you’re buying your first home or selling your property, our local expertise and tailored strategies ensure you get the best possible results in the Guelph area.
Looking Forward
As new listings continue to trend upward, it’s an excellent time for buyers to make a move, with more inventory and less competition. Sellers, however, may need to stay patient and adjust expectations to align with current pricing trends. Chestnut Park West is ready to guide you through this market, offering expert advice and support every step of the way.
Reach out today to learn how we can help!
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.
