Ep 15: Guelph real estate weekly sales update May 1-17, 2025

Send us Fan MailMay 1- 17 sales update:There were 100 units changing hands in the Guelph real estate market during the period of May 1-17. This translates to about 5.9 sales per day. Although on the lighter end, it's getting very close to an acceptable average. Here are previous May sales numbers:May 2020: 5.0 houses per day average (*early COVID 19 pandemic)May 2021: 9.0May 2022: 6.2May 2023: 6.5May 2024: 6.1May 1-17, 2025: 5.9What sold in the Guelph real estate market during the period?26 were condo/ townhouse/ stacked townhouse (properties with fees)74 were detached and semi detached (properties without fees or "freehold")Condos/ townhouses/ stacked townhouses:Of the 26 units that sold:$365,500 was the low price$1,080,000 was the high priceOverall average was just over $578,000 (trend is decreasing)Total homes sold at an average of 97.1% of the original asking2 of the 26 units sold over asking (8%)1 sold at the asking (4%)23 sold under the asking (88%)This is consistent with our predictions for this segment, in particular the stacked townhouse segment that is strugging with oversupply. The supply should increase over the next few months as warmer weather returns and many projects complete. Ths will continue for years with a number of projects in all areas of Guelph coming to completion. Of course, this isn't EVERY unit, it's just overall. If you're a buyer in this segment, you have more power than you've had in years to negotiate. However, sellers still have expectations on sale prices vs recent comparables.The overall % of asking remains consistent at arounf 97% of asking. This means that on average, there is 3% negotiation room on the asking prior. However, it's to be noted that this is an average and not an expectation. The % asking is also calculated from the last posted listing price, not the original listing price.Detached/ semi detached freeholdOf the 74 units that sold:$450,000 was the low price$1,961,300 was the high priceOverall average was $937,000Total homes sold at an average of 98.9% of the last listed asking price26 of the 74 sold over asking (35%)9 sold at the asking (12%)39 sold under the askingYou can always get touch with Beth and Ryan Waller on their website