Based on March sales data, the Canadian Real Estate Association released a revised 2026 outlook and it points to a slower-than-expected spring market. National home sales are now forecast to rise just 1% this year, a notable drop from the earlier 5.1% projection. Prices are also expected to see modest growth of about 1.5%, with the average home price reaching $688,955 — roughly $10,000 lower than previously forecast. March activity reflected this shift. Robert Hogue of RBC noted it was the slowest start to the spring market in 17 years.
The spring market in Guelph continued to show signs of balancing in April, giving buyers more choice while sellers face increased competition. The average sale price in Guelph came in at $747,875, down 5% compared to the same time last year. Sales activity also softened slightly, with 142 homes sold — a 6% year-over-year decrease. At the same time, homes are taking longer to sell, with the average time on market increasing 15% to 33 days.
One of the more notable trends is the sharp rise in terminated listings, up 60% year over year to 134 properties. This suggests some sellers may still be pricing based on past market conditions rather than today’s more balanced environment. Active listings have climbed to 593 homes, representing approximately four months of inventory.
Overall, the market remains steady, but today’s buyers are more patient and selective. Well-priced, well-presented homes are still selling, while properties that miss the mark on pricing or presentation are facing more competition and longer market times.
