February Market Update in Guelph

Random Tidbit February 15, 2023

Didn’t January fly by? If you blinked, you might have missed it! Well, the good news is according to weather expert Wiarton Willy we’re going to have an early spring. The sun seems to finally be making a comeback after many grey days in January. Family Day weekend is just around the corner and we hope you’re able to make the most of it – check the bottom of the newsletter for some fun local activities.

Just like the weather, the real estate market has been warming up too! Buyers are really active right now in comparison to the end of 2022 when there was so much uncertainty with mortgage rates. Since rates seem to be levelling out, savvy buyers are pulling the trigger on homes that fit their new budget while factoring the rate changes.

There is so much demand to live in the Guelph and surrounding areas. So it’s no surprise that there’s a lot of competition amongst buyers lately! The amount of homes for sale is simply not enough to keep up with the demand. In some cases, homes that are listed at market value or less are generating lots of interest and sometimes getting multiple offers. However, it’s not nearly as competitive for buyers as it was this past January-March. Homes in Guelph this January took 28 days to sell on average which means there is some balance in the market after all.

Spring is a great time to move! If you are thinking of selling, now is the time to reach out to us so we can help you get ready for the market. With lots of new listings coming up every day, it might be the right time to start the search for your next home. Give us a shout if you’re thinking about buying or selling!

Let’s stay connected! Follow us on Instagram (@rcteamrlp) for more updates on the market, local recommendations, and new listings.

Family Day Weekend Ideas:

Spring Maintenance Checklist:

  • Change furnace filter
  • Check & clean eavestrophes/downspouts
  • Replace the batteries in your CO2/smoke detectors
  • Clean humidifier/dehumidifier
  • Check the roof for damage or cracked shingles
  • Call us to find out what’s happening in the market