The definition of a Seller's market is a market which has more buyers than sellers. When comparing the numbers of new listing, conditional and firm sold listings in Guelph, you may think the market in Guelph has changed to a Seller's market, especially in these two weeks. The number of sold houses is more than the new listed ones. If it continues to go on like this for two more weeks, the prices of the resale houses will go up for sure. However, those numbers reflect mostly on the houses with a price range under 350K. What about the houses over 350K? They either stay on the market or get sold for 10-20K below their asking price. Therefore, it's a Seller's market only for houses under 350K.
Has the market in Guelph changed to Seller's market?
- November 27, 2009
CENTURY 21 Heritage House Ltd., Brokerage*