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Current Trends in Our Local Real Estate Market

Bright sunny days and some stunning evening sunsets have us all thinking of Spring!

On a recent walk with his family, Malcolm’s boys were laughing and chirping back at all the birds that have come out of winter hiding. They are loving this time of year!

As we navigate through Covid-19 and approach longer, warmer days, things are looking more positive than we have seen for some time.

Looking at the Local Real Estate Market, we continue to experience low inventory and very high demand from both local and out of town Buyers primarily from the GTA.

This has resulted in a spike in value from even last fall.  Our inventory locally is scarce!  There are currently 17 homes for sale in Fergus, ranging from $569,900 for a townhome to $1,875,000 for a riverfront home. In Elora there are only 5 homes for sale, starting at $725,000 for a 936 sq ft home close to the Mill development up to $1,097,000 for an older 4 bedroom brick home in the heart of the village.

If you are considering a move and budgeting with 2020 values; you may want to reach out for a current valuation in order to re-jig your plans moving forward.

Perhaps your new valuation allows you to look at a different price range?

Possibly this new valuation allows you to make your next life move?

We have found many Sellers moving to lower valued markets in order to achieve their next step in life goals a year or 2 earlier than initially planned.

Another common topic we find ourselves discussing is financing.

With rates still at all-time lows (although we saw a recent bump up in rates last week), we have many clients refinancing for lower rates, taking on renos, additions, investment properties or 2nd homes in order to meet their real estate goals and dreams.

If this is something that you have thought about or are thinking about, please reach out and we can connect you with our great resources that can help you with financing, home renos or great referral partners in other markets that can assist you in your 2nd home or cottage search.

The market on a whole would be termed a “Hot Seller’s Market”.

We continue to network with people thinking of making a move, in search of their dream home, getting in to the investment market, looking for land, perhaps a cottage or a farm.

The market is changing quickly. Almost week by week in many cases.

As a result, we feel that it is more important than ever to connect with your local Realtor. To create a plan and become knowledgeable on the market and current trends.

If you are wondering about next steps – please reach out!

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