Guelph Condo Market Update – June 2026
After a prolonged period of soft conditions, the Guelph condo market finally delivered some encouraging numbers in May. The average sale price climbed to $572,236, an 11% increase from April, while sales activity also picked up considerably. A total of 55 condos changed hands, up 28% from the previous month and 31% higher than May 2025.
Homes in the Guelph condo market sold at an average of 97.6% of list price, and the average time on market improved to 37 days, a 15% decrease from April. Buyers remain selective, but well-priced properties are attracting attention and moving more quickly than they have in recent months.
Inventory levels in the Guelph condo market remain elevated, with 323 active listings representing approximately 5.8 months of inventory at the current pace of sales. That still points to balanced conditions, but the increase in sales has begun to absorb some of the available supply.
These are the first broadly positive numbers we’ve seen in quite some time, raising the question: Could the condo market be poised to turn?
While it’s too early to declare a full-fledged recovery, the latest figures suggest that the market may be finding its footing. Improved affordability compared to detached homes, lower borrowing costs than a year ago, and pent-up demand from first-time buyers and downsizers are all factors that could support further gains.
One month does not make a trend, but May’s results are certainly encouraging. If this momentum continues through the summer, 2026 could mark the beginning of a gradual turnaround for the Guelph condo market.
Canada’s Housing Market Posts Its First Annual Price Gain of 2026
After several months of declining prices, Canada’s housing market finally recorded its first year-over-year increase in 2026. According to the Canadian Real Estate Association‘s April data, the national average sale price rose 2.2% from a year earlier to $695,412. While that marks an encouraging shift in sentiment, the broader market picture remains mixed.
Sales activity across the country remained below last year’s pace, with approximately 42,900 homes changing hands in April, down 4% year over year. Meanwhile, new listings increased by 4.1%, pushing the national sales-to-new listings ratio down to 45.6%. In other words, inventory is being added faster than buyers are absorbing it, keeping many markets tilted in favour of purchasers.
Ontario continues to weigh on the national numbers, with the province’s benchmark price sitting at $752,400, down 5.7% from a year ago. The Greater Toronto Area, however, showed signs of improvement. Sales rose 7% year over year while new listings declined by more than 9%, reducing months of inventory from 4.9 to 4.2. That tightening in supply may be an early indication that market conditions are beginning to stabilize.
Although the return of annual price growth is an important milestone, it should not be interpreted as the start of a major upswing. Buyers who have been waiting on the sidelines for signs that prices have bottomed out now have some evidence that the market may be finding its footing. Whether that momentum builds through the remainder of the year, or is slowed by economic uncertainty and trade concerns, remains one of the key questions facing the housing market.
As always, real estate is local. National statistics provide useful context, but conditions can vary significantly from one community to another. That’s why buyers and sellers are best served by focusing on what’s happening in their own market rather than relying solely on headlines.
Are you considering a move in 2026? Call or email Dean, your Guelph condo expert!
