Guelph

established 1827

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DISCOVER

About Guelph

Guelph has an unmistakable identity. From its booming craft beer scene, and vast array of independent eateries, Guelph is a city to be savoured. Its sparkling rivers and picturesque views complement the historic buildings, landmarks and signature cultural facilities located throughout the City’s core.

Guelph is considered to be one of the first planned towns in Canada, and the location was picked to serve as a British development firm’s headquarters by its Superintendent in Canada, a popular Scottish novelist named John Galt. Galt designed the town to attract settlers to it and to the surrounding countryside. Galt chose the name “Guelph” for the new town because it was one of the family names of the British royal family, and it had apparently never been used as a place name before. Hence the current use of the term “The Royal City” for Guelph.

Fun facts:

  1. Guelph was the home of North America’s first cable TV system. Ted Metcalf created McLean Hunter Television and their first broadcast was Queen Elizabeth’s Coronation in 1953.
  2. The wire coat hanger was invented in Guelph in the 1920s.
  3. Colonel John McCrae, who wrote the poem “In Flanders Fields” was born and raised in Guelph.
market update
market update

Comparative Analysis

  2022 Y/Y M/M
Sales 92 -30.8% -20.0%
New Listings 198 22.2% -7.5%
Average Sale Price $964,005 13.0% -6.8%
Median Sale Price $866,500 8.3% -8.8%
SNLR* 46.5% -35.6% -7.3%

Source: TRREB Market Watch Report – Summary of Existing Home Transactions (Detached)

*SNLR (Sales-to-New-Listings-Ratio)

  • SNLR at 55% or more indicates a seller’s market; more buyers than properties for sale
  • SNLR between 34% and 54% indicates a balanced market; about the same number of properties for sale as there are buyers
  • SNLR at 35% or less indicates a buyer’s market; more properties for sale than there are buyers
guelph
guelph

June 2022

Higher borrowing costs continued to impact home sales in June 2022. The Toronto Regional Real Estate Board (TRREB) has released its latest market stats, which show a 41 percent decline in sales compared to last year across all housing types. The average selling price, at $1,146,254, remained 5.3 per cent above the June 2021 level, but continued to trend lower on a monthly basis. Month-over-month the average selling price dipped by 5.5 per cent.

While the number of transactions was down year-over-year, the number of new listings was up in most of our service areas. This has provided for an even greater shift into a buyer’s market, resulting in a more moderate annual pace of price growth.

“Our region continues to grow because we attract people and businesses from all around the world. All of these people will require a place to live, whether they choose to buy or rent. Despite the shorter-term impact of higher borrowing costs, housing demand will remain strong over the long-term, as long as we can produce homes within which people can live. Policy makers at all levels need to make this their key goal,” said TRREB CEO John DiMichele.

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listings

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