Printable Version Market Stats 2012
Market Analysis 2012
Record February for Guelph home sales
The number of homes sold through the MLS® System of the Guelph and District Association of REALTORS® was up considerably from year-ago levels in February 2012.
According to statistics provided by the Association, home sales numbered 275 units in February 2012. This was an increase of 21 per cent compared to the same month last year, and marks the highest level on record for sales in the month of February.
On a year-to-date basis, sales activity was running 14 per cent ahead of levels in the first two months of 2011, and was also outpacing sales activity over the same period in all other years except 2007.
Sales of all types of properties in the Guelph region numbered 287 units in February, up 15 per cent from year-ago levels.
“After having quieted down in January, demand and prices were back setting records again in February,” said Jeff Matteis, President of the Guelph and District Association of REALTORS®. “New listings have not been able to keep pace with the recent strength in demand, and we’re looking at a tighter market as a result.”
The average price of homes sold in February was $324,931, an increase of 12 per cent from February 2011.
The dollar value of all homes sold through the MLS® System of the Guelph and District Association of REALTORS® totalled $89.4 million, rising 36 per cent from levels recorded in February 2011. The total value of all properties sold in February 2012 was $93 million, up 27 per cent on a year-over-year basis.
New residential listings numbered 413 units in February, up 16 per cent on a year-over-year basis. There were 554 active residential listings on the Association’s MLS® System at the end of February, down 11 per cent from levels at the end of February 2011.
There were 2.2 months of inventory at the end of February 2012 on a seasonally adjusted basis. This was down from 2.7 months at the end of January. The number of months of inventory is the number of months it would take to sell current inventories at the current rate of sales activity.
The Guelph and District Association of REALTORS® represents more than 450 REALTORS® in Guelph and surrounding communities like Fergus and Elora.
Record February for Guelph Home Sales
Is it time to "move up?"
Chances are when you bought your first home you were thinking of it as a "starter home" and dreamed of owning a larger and better home one day. With today's mortgage rates in the lowest range they've been for almost 30 years, you might be pleasantly surprised that you can afford that "move up" house now. Using the equity you've built up in your current home, your carrying charges may not be much larger than what you've been used to paying. If you're curious to find out, ask a member of the Guelph & District Association of REALTORS® to help you calculate carrying costs on a "move up" home. There are many reasons why you may wish to have a larger home including a growing family, the desire to have more bedrooms so the kids can have their own space. Or maybe you want a larger yard, a garage or a home with a private driveway. Whatever your reasons, moving up to a new home can be very satisfying.
When you decide that moving up is the way to go, be sure to enlist the services of a REALTOR®. Your options can be confusing at times, however a member of the Guelph & District Association of REALTORS® can help you make the right choices.
He or she will help you determine the market value of your current home and therefore the price range you should be considering in a move up home. You'll need to determine where you want to move. Do you want to stay in the same neighbourhood or move on? There are almost as many individual choices on location as there are homes. The members of the Guelph & District Association of REALTORS® are skilled and knowledgeable in all aspects of a real estate transaction and can ensure you make a smooth move.
Moving up to meet your changing lifestyle and needs can be an exhilarating experience. Your home is probably the best investment you'll ever make so why not take advantage of current market conditions and enhance your investment today.
Is it time to "move up?"