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May 2024 Guelph Housing Market Update
Andra Arnold • June 7, 2024
May 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.
MAY NUMBERS
Median Sale Price $785,000
-6.44%
Average Sale Price $834,095
-4.96%
Sales Volume $152,639,311
-13.47%
Unit Sales 183
-8.96%
New Listings 381
+36.56%
Expired Listings 8
0%
Unit Sales/Listings Ratio 48.03%
-24.01%
Year-over-year comparison
(May 2024 vs. May 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.
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