June 2024 Guelph Housing Market Update

Andra Arnold • July 8, 2024

June 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.

JUNE NUMBERS

Median Sale Price $750,000

-8.45%

Average Sale Price $792,581

-9.59%

Sales Volume $147,420,002

-10.07%

Unit Sales 186

-0.53%

New Listings 332

+8.85%

Expired Listings 35

+191.67%

Unit Sales/Listings Ratio 56.02%

-5.29%

Year-over-year comparison

(June 2024 vs. June 2023)

May year-over-year sales volume of $152,639,311

Down 13.47% from 2023’s $176,409,250 with unit sales of 183 down 8.96% from last May’s 201. New listings of 381 are up 36.56% from a year ago, with the sales/listing ratio of 48.03% down 24.01%.

Year-to-date sales volume of $604,939,891

Down 5.58% from 2023’s $640,717,983 with unit sales of 754 down from 800 in 2023. New listings of 1,386 are up 24.3% from a year ago, with the sales/listing ratio of 54.4% down 17.35%.

Year-to-date average sale price of $798,878

Up from $789,507 one year ago with median sale price of $773,500 up from $738,500 one year ago. Average days-on-market of 24.8 is up 5.2 days from last year.