Fall Real Estate Market Update in Guelph

Random Tidbit October 18, 2023

We hope you and your families had a relaxing summer and enjoyed the beautiful September sunshine — fingers crossed that we have a colourful and cozy fall season! As we know, changes in the season usually pair with changes in the real estate market, so let’s get caught up on what we’ve been seeing and what we can expect.

The summer market in Guelph was quiet through July and August which is typical as folks tend to enjoy the last bits of warm weather while getting ready for back-to-school and cooler temperatures. Right now, there are more homes for sale than usual! There are currently 315 listings for sale in Guelph as we’ve seen a surge of new listings since Labour Day long weekend. For buyers, this is great news! It means there are more options than what’s to be expected this time of year. For sellers, listing in a more-balanced market means that it’s super important to price your home effectively. It can totally set the stage for how your home sells. As experts with a combined experience of over 55 years working in the area, we can certainly help you determine an effective price point.

As you likely know, mortgage rates have been constantly changing this year. If you are thinking about moving within the next six months, now is the time to get a pre-approval with the current interest rates! Sometimes, you can get an “interest rate hold” for a period of time — be sure to ask your mortgage agent about this if you’re thinking about moving. It’s a significant step in the buying process because you discover key information like your maximum purchase price, monthly payments, and current interest rates. Once pre-approved, you’ll have a better sense of the big picture and, with other factors in consideration, you can come up with a budget and begin your search. We can help point you in the right direction if you need a mortgage broker/specialist.

Lastly, and certainly not least, we have a new team member! Kristin joined our team this summer. This is Kristin’s second year at Royal LePage. She is energetic, friendly, and brings years of customer service experience along with her. As a Guelphite who is enthusiastic about real estate, she’s been a wonderful addition to our team. Welcome, Kristin!

Check out our featured listings page for our current listings. If you know of anybody who might be interested in one of these homes, contact us with their name and phone number, and we’ll be sure to connect with them. We appreciate your support!