Wonder What Happened in 2015?
2015 was another blazing year for real estate. Those of you who used a Realtor® saw this first hand with multiple offers, and often times over asking sale prices. Those who didn’t use a Realtor® still benefited by selling in a reasonable time frame, and acceptable price. The strong market was caused by the lack of inventory in Guelph. The simple answer is that more people wanted to move here, rather than leave. Our strong local economy, low unemployment and low vacancy rates all assisted in creating an appealing housing market.
In 2015 over 86% of properties that were listed sold! That may not sound very good to some people, but remember this includes ALL properties and as we know not all properties are sellable. Out of 2769 properties listed, 2399 sold! The average days on market was 21. Yes, 21 days to sell your house firm!
What Happened in January This Year?
January continues to be hot!! Although the snow hasn’t melted from the heat! The January market has some people scratching their heads, as traditionally January is dead, but to those of us who do this every day, it is actually predictable. The factors are nearly always predictable, at least in the last 10 years.
- The first reason is pent up demand from the Christmas holidays, buyers are finished with the festivities, and now focus on buying a house again. Many people still have not secured a home from the fall because of the brisk market.
- The second influence is the student rental market. Investors and parents scramble to secure a property in a short window of time while students simultaneously search for properties to rent. This creates excitement and an early start to the year. The energy of this period is sensed by the local “regular” buyers and sellers and the transition to normal real estate market activities is smooth as the snow melts away. The spring market springs early!
What Does This Mean?
What it means is that if you own property in Guelph, you have a great investment! People want to live here and you can enjoy the equity that creates. If you want to sell, you will get top dollar if planned correctly. If you buy and you also plan correctly, you will join a healthy real estate market and start building your dreams with confidence. Please consult with us BEFORE you make any decisions so that we can guide you through the process, and get you the best outcome for your situation.
Get The Full Guelph Market Report!
Please fill out the form below and we will send you the full 3 page PDF January 2016 Guelph Real Estate Market Report.