July 2024 Guelph Housing Market Update

Andra Arnold • August 7, 2024

July 2024
Guelph Real Estate Market Report

Balanced Market

The City of Guelph real estate market continues to be a balanced market despite both unit sales and sales volume being lower than they were this time last year. Both average and median sale prices dropped in comparison to last year, however, the significant increase in new listings reflects a shift in market dynamics. Despite these changes, the market still shows signs of stability.

JULY NUMBERS

Median Sale Price $741,000

-6.2%

Average Sale Price $753,760

-9.1%

Sales Volume $102,511,332

-20.24%

Unit Sales 136

-12.26%

New Listings 314

+20.31%

Expired Listings 16

+6.67%

Unit Sales/Listings Ratio 43.31%

-16.07%

Year-over-year comparison

(July 2024 vs. July 2023)

July year-over-year sales volume of $102,511,332

Down 20.24% from 2023’s $128,526,169 with unit sales of 136 down 12.26% from last July’s 155. New listings of 314 are up 20.31% from a year ago, with the sales/listing ratio of 43.31% down 16.07%.

Year-to-date sales volume of $854,871,225

Down 8.39% from 2023’s $933,178,363 with unit sales of 1,076 down from 1,142 in 2023. New listings of 2,032 are up 20.88% from a year ago, with the sales/listing ratio of 52.95% down 14.98%.

Year-to-date average sale price of $791,533

Down from $807,627 one year ago with median sale price of $750,000 down from $789,950 one year ago. Average days-on-market of 24.6 is up 5.9 days from last year.