The average sale price for a single family home in Guelph and district has fallen from $966,400 in July this year to $961,300 in August this year.
The average sale price for a townhouse in Guelph and district in August was $692,600. For a condo it was $550,100.
In August 2022 the average sale price for a single family home in Guelph and district was $950,300. For a townhouse it was $700,600 and for a condo it was $551,600.
Nationally home sales fell 4.1 per cent in August compared to July, the Canadian Real Estate Association (CREA) reported Friday.
"August was the first full month of housing data following the Bank of Canada’s July rate hike, so a dip in activity was expected,” said Shaun Cathcart, CREA’s senior economist, in a release.
“The demand is obviously still there, and it will be back, but as the housing affordability crisis re-emerges as a top policy issue, for now, the slowdown on the buyer side should help keep a lid on prices,” he said.
In nearby Cambridge the average sale price for a single family home in August 2023 was $779,900. For a townhouse it was $670,400 and for an apartment it was $501,000.
In Kitchener-Waterloo this August the average sale price for a single family home was $877,000. For a townhouse it was $651,900 and for an apartment it was $475,400.
