Ep 10: Guelph real estate weekly sales update Mar 23-29/25

This week we look at weekly Guelph real estate sales for the period of Mar 23- 29, 2025. Additionally, because we're almost at the end of the month, Ryan provides an update on where the month is likely to roll in!

What sold in the Guelph real estate market during the period?

• 10 were condo/ townhouse/ stacked townhouse (properties with fees)
• 21 were detached and semi detached (properties without fees or "freehold")

For the period of March 2025 vs March 2024:

- $ volume -24% (all sale prices added together)

- unit volume -24% (# of houses sold)

- avg price declines of -5%

You can always get touch with Beth and Ryan Waller on their website

Transcript

Podcast Mar 23-29

 Welcome to the Guelph Real Estate Report podcast with your host and wealth realtor, Ryan Waller. This podcast is designed to provide information for those buying and selling homes in the Guelph area to make the process more informative, fun and a little less stressful. Now on with the show! Hey everyone, it's Ryan and thanks for tuning in to the Guelph Real Estate Report podcast. This is episode number ten. I promised myself I would do a minimum of 100. So stick with me. We've got at least 90 more to go. But first I wanted to say thank you because I believe we are now at 100 downloads, which is great for something that didn't exist just a few weeks ago. And, um, it's always been something that I've been interested in doing. And here's a short story for you. Many years before I got into real estate, I used to work in advertising agencies in Toronto, and I worked for a big one, downtown Toronto, and they had just won an account at their Vancouver office. The account was Telus, and Telus, being a Western Canada company, was going to be moving into eastern Canada. So they needed somebody from the eastern part of the country to go there and to advise Telus on what the strategies may be from an advertising perspective, because they do differ a little bit from Western Canada. So I moved there in, um, 2000 and I lived downtown Vancouver or Kitts Beach, I guess, and I had to walk across the Burrard Bridge every day to our office downtown at Robson and Hornby, right on the corner. I didn't know anyone, and I oftentimes would work later hours because there was a lot to do. It was new for me. I wanted to do a great job, and I would be there late into the evening. And I distinctly remember on one night in the spring and it was dark. I had a corner office that I shared with a few people, and I was working at my desk, and all the lights were on outside, and it was probably 9:00 at night, and it was silent. Except for this Newstalk radio program I was listening to on. I think it was one of those things at the time, was like a real player or something like that. One of those programs that you could open up on your desktop computer and play radio stations anyways. I remember distinctly because I just thought the moment in time was just a really cool thing. It was very quiet. I was on the eighth floor of a building overlooking Vancouver. Thinking about just being there in silence, with the exception of this hum of this radio. And I thought I would like to do that someday. I'd like to create some sort of radio show and build trust that a listener or reader or viewer can gain over time of that person, obviously, as long as the information is credible. So my goal is always to keep this credible with fact driven information and specific information that you might not hear anywhere else about the wealthy real estate market. And on that note, let's get into the sales. Um, we're going to look at two things today. One of them is the March 23rd to 29th, uh, sales last week in the Gulf real estate market, as well as now that it's the 29th, we're almost at the month end. So this is sort of a sneak peak on how the month is going to end. The numbers will change slightly, but in totality we're almost there. Last week, there were 31 sales in total. Of which 21 were detached homes and ten were condos and townhouses. For the detached segment, the low sale price was just over 588,000 on Kingsmill in the ward, and this went over the asking price, which continues our story on those lower priced detached. And the high was on Waverly at 1.9 million. Interestingly, this segment still continues to trend above average in the total prices. If you take a look at all of the asking prices, the latest asking prices divided by what they sold for. It shows that they sold for just over the total asking price on average. However, there is an exception. There was a house that sold at 61 South Creek significantly over the asking, over $200,000 over the asking price. Without that sale, homes would have sold below the asking on average. Interestingly, in the condo segment, all of the sales last week were at or below the asking price. There was not a sale above the asking price. What we'll talk about now are the March numbers in totality and where we see this going. And there have been some changes, maybe some significant changes since the beginning of the month, at the beginning of the month. We had very low sales per day. We were in the threes where historically in March we were at 5 to 10. And as we get into the last week of March now the sales this week were at about five. So what it looks like is happening is that the spring market that would normally happen at the beginning of March is about a month delayed, and we're starting to get to those volumes that you'd see in March at the very end of March, with the increase in sales volume this last week of March. It brings up the average to about 4.3 homes per day. Again, five was the bare minimum for the past five years. So to be less than five sales per day in March is unique. What I think you're going to hear when the March sales finalized and people start reporting on it in the news, you're going to see a couple of things, actually. Maybe you'll see three things. There are three measures that we look at when we give data for a sales month. One of them is the total dollar volume. That's the total. If you add up all of the sale prices of homes. The second thing we talk about is the unit sales. How many actual homes have sold? And the third thing is, which we find to be in order of priority number three, average price. Because average price can be influenced by a very cheap house or a very expensive house selling. But it still matters, and it's still an indicator of what's going on in the market. So first, a dollar volume. If you add up all the sales of homes, all the sold prices in a given month, how much in dollar volume is that? And for 2025, in March, we are looking at dollar volumes that are 2,425% below what we saw at the same month last year. The second thing we compare is the unit volume. And not to get too technical on you, but depending on how the unit volume versus the dollar volume looks, it can be inflationary or deflationary depending on how big the gap is between the two. But coincidentally, unit volume is going to fall in very, very close at about -24% versus 2024. So if dollar volume is down 24% and unit volume is down 24%, you're probably going to have a guess where the average price is. However, it's not at -24%. It's not even close. The average price in Guelph for March is going to be around 781,000, and although that is less than the past six months, it is higher than some months and it really isn't a notable decrease. It's only about a 5% decrease versus last year. So the reason that this happens is because there are still All expensive homes. And of course, if it's an average, you need the average of all of the homes sold. There was a 1.3 million in the arboretum that sold. There was a 1.9 million in Exhibition Park. There was another 1.9 million. In Waverly. There was a 1.7 million on speed ville. All of these contribute to the average. And of course every month has million dollar home sales. So it's nothing unusual. And I think that it's safe to say that the average price in this case makes sense. It is down, but it's not nearly down as much. And I think those that are waiting for this big crash to happen, I don't think it's going to happen, because if we were going to see some indication of that, it would have been in February or March. I don't think it's coming in the coming months. That's all for this week, folks. If you want more information on the Guelph real estate market, you can always find us on our website at bethandryan.ca where you can book an appointment, give us a call, read our blog, watch our videos. It's all there. Talk to you soon.