October 2023 Guelph Housing Market Update

Andra Arnold • November 6, 2023

October 2023
Guelph Real Estate Market Report

Balanced Market

The City of Guelph real estate market swings backwards into a balanced market due to a drop in unit sales and sales volume, paired with an increase of inventory. Average and median sales prices remain higher than they were in October of 2022, showing the continued fortitude of this market.

October NUMBERS

Median Sale Price $765,000

+4.61%

Average Sale Price $782,683

+4.92%

Sales Volume $83,619,348

-26.26%

Unit Sales 108

-28.95%

New Listings 263

+35.57%

Expired Listings 24

+14.29

Unit Sales/Listings Ratio 41.06%

-37.29%

Year-over-year comparison

(October 2023 vs. October 2022)

October year-over-year sales volume of $83,619,348

Down 26.26% from 2022’s $113,393,310 with unit sales of 108 down 28.95% from last October’s 152. New listings of 263 are up 35.57% from a year ago, with the sales/listing ratio of 41.06% down 37.29%.

Year-to-date sales volume of $1,186,882,917

Down 23.86% from 2022’s $1,558,759,441 with unit sales of 1,465 down 16.57% from 2022’s 1,756. New listings of 2,449 are down 18.85% from a year ago, with the sales/listing ratio of 59.82% up 1.64%.

Year-to-date average sale price of $802,212

Down from $868,397 one year ago with median sale price of $768,750 down from $822,450 one year ago. Average days-on-market of 19.4 is up 2.9 days from last year.