It’s the most beautiful time of year again… The leaves are changing, and the sun is still shining! We hope you enjoyed another beautiful summer in the Guelph area. It’s almost time to bust out your favourite sweater!
Let’s loop you in on Guelph’s summer real estate market. It was steady in a lot of ways this season. Prices have been consistent since the beginning of the year, and there has been a healthy amount of homes for sale compared to recent years. The number of sales slowed down in July and even more so in August, which is typical as folks tend to spend their time enjoying summer rather than house hunting. On the flip side, September is off to a hot start with 262 new listings since Labour Day (as of Sept 24th).
Leaves are falling, and so are rates! Interest rates have been on a steady decline throughout the year with the Bank of Canada policy rate at 4.25% and fixed mortgage rates ranging from 4.5-5%. Rates are forecasted to continue dropping throughout the remainder of the year. All factors point to a balanced market that is likely to ramp up heading into 2025.
Regardless of your real estate goals and plans as a homeowner, it’s always great to know what your home is worth. In an ever changing market, your home may be worth even more than you think! We are pleased to offer complimentary opinions of value to our clients and friends. The process is simple & stress-free, we’ll do all the work! Call or email us anytime if you are curious about the value of your home.
Check out our current listings. If you or anyone you know may be interested in one of these listings, give us a call! As always, we appreciate your support.