Local Real Estate Update & Statistics

Finally some warmer days and sunshine have arrived!

This has been a welcome time for everyone as we all try our best to navigate through these uncertain times.

We hope you and your family are well and that you are finding little victories every day in life. These will help us all emerge from Covid stronger than ever. If you need a hand with anything at all, some local resources or a helping hand, please don’t hesitate to reach out. We continue to be active in the community providing support in many ways, this has truly been a humbling time for all of us.

From a Real Estate perspective, we shared earlier that March volumes in trade and inventory had plummeted, yet values held. April stats show this trend continuing. Year over year inventory in April was down considerably. Volume of trade was also down significantly. Similar to March, values held strong through the month of April and seem to be holding as we carry through May.

This we can attribute to an inventory that has been easily satisfied with Buyers in the market ready to buy. As the weather improves our phones have been ringing more often, our online portals busier than ever as families remain at home and online searching for homes that meet their dreams. For the foreseeable future it seems that there will be plenty of Buyer demand in our market where we still struggle to find listing inventory.

Looking at the actual sales over the past month, a significant portion of these homes have been sold to GTA Buyers. The thought that our area remains popular with Buyers coming out of higher density areas looking for more space, appears to be more valid than ever.

The month of May has seen a gradual increase in volume of trade and listing inventory. All indicators point to an increasingly active month as the province opens up. Daily numbers of new active listings is increasing. Conditional sales and pending sales are happening more each day. Following new showings procedures to ensure everyone’s safety and taking extra precautions, we are showing our listings as well as others, providing listing presentations and valuations, Buyer consultations and virtual open houses. It is business as usual in a new way as we seek to reach our clients dreams and goals.

What does this mean to you?

Well a few things are certain:

• Values have held thus far.
• Interest rates and mortgage options are as attractive as ever!
• Inventory is improving.

There is never a bad time to Buy the Perfect Home for you! If you happen to be considering Selling…if the time is right for you, it is the right time to sell! 

Perhaps you or someone you know has been thinking about making a move, an investment…preparing for your future?This is the perfect time to reach out and arrange a socially distant conversation or Zoom call to discuss and create a plan that gets you where you need to be. 

We look forward to talking with you soon!

** Please see attached Statistics provided by Guelph and District Association of Realtors for April 2020.