Guelph Real Estate: Navigating a Confusing Market - March 2025 Recap
Well, folks, if you've been scratching your head trying to figure out what's happening in the Guelph real estate market lately, you're not alone! In my 13 years of selling real estate here, I can honestly say this feels like one of the most perplexing times I've experienced. And with all the talk about our friends south of the border, it's easy to get even more confused about what's happening right here in our own backyard.
So, I wanted to break down the numbers for March and compare them to the same time in 2024, to give you a clearer picture of what's really going on in the Guelph market. Let's dive in!
Average Days on Market:
Currently, across all styles of homes in Guelph, we're seeing an average of 22 days on market. Now, if you want to get down to the nitty-gritty and see what's happening specifically in your neighbourhood and with your type of home, please don't hesitate to reach out! I'm always happy to pull those detailed stats for you.
But looking at the bigger picture, back in March 2024, the average days on market was 17. So, homes are taking a little bit longer to sell this year compared to last.
Sales Volume:
This is where we see a significant difference. In March 2025, we recorded 81 sales. Compare that to the end of March 2024, where we had 145 sales. That's a pretty drastic drop in the number of homes changing hands.
Median Sale Price:
Now for the part everyone's curious about – prices. The current median sale price in the City of Guelph is sitting at $850,000. Interestingly, at this time last year, in March 2024, the median sale price was $830,000. So, despite the drop in sales, we've actually seen a slight uptick in prices year-over-year.
When I look at the monthly graphs, the median sale price has been relatively consistent, hovering around the mid-$800,000 mark with some minor fluctuations of maybe $10,000 to $20,000 here and there.
New Listings:
In March 2025, we saw 186 new listings hit the market. This is also down compared to March 2024, which saw 253 new listings. So, we have fewer homes coming onto the market this year as well.
What Does This All Mean?
So, let's recap: we're seeing fewer homes coming onto the market, they're taking a bit longer to sell, and the number of sales is significantly down compared to last year. Yet, prices are maintaining and even showing a slight increase. Confusing, right?
Currently, as we move into April 2025, we have 245 listings available. Based on the trends we're seeing, I anticipate the rest of the year will likely continue with these ups and downs. I don't foresee a massive price surge by any means.
As for a significant decline in prices, I'm still hesitant to predict that for Guelph. Our market has historically shown to be fairly insulated from the major swings we see in places like Toronto and Vancouver. However, the market is dynamic, and we'll have to wait and see how things unfold.
Navigating the Uncertainty:
If you're feeling unsure about your specific real estate situation in this market, please don't hesitate to reach out to our team. We're here to help guide you through these confusing times and provide the best advice we can.
Thanks for tuning in, and we'll continue to keep you updated on the Guelph real estate market!