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MARKET minute with MATT & MELISSA

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HEY!

We're trying something NEW here. Tell us what you think!

2023 Takeaways

  • We saw the market slow down with nearly 20% less properties being sold vs. 2022

  • Those that did sell, stayed on the market longer (on avg 5 days), typically taking 2.5 - 3.5 weeks to sell

  • Unsurprisingly, Median sale price is down (6.3%) vs last year

  • However, looking at a 5 year trend, we are still up 37.3%

NOTEWORTHY NEWS

We made a move!

In case you missed it... Following thoughtful consideration, we're transitioning to a new brokerage: Chestnut Park West. This boutique brokerage operates in a culture of excellence where our service will only get better. Joining this smaller, highly engaged team in downtown Guelph will not only allow us to continue to offer a bespoke experience that exceeds your expectations, but it will also empower us to stay connected to the pulse of the city and bring some pretty unique experiences to you and your family. (More on that later). Learn about Chestnut Park here. Have questions, let's grab coffee!

The FIRST rate announcment of '24: Wed. Jan 24

This first rate announcment is not expected to bring any surprises with it. While ~20% of lenders were said to be pricing a rate cut early in the new year, it's not likely going to happen this quickly. Most economics are predicting the Bank of Canada to hold rates steady, but we will have to tune in to find out. 

March 16th - Save the Date

Just when you think you've run out of March Break ideas, we have something up our sleeve! We're planning a fun, free family event for Saturday March 16th. Stay tuned for more details.

See & Do

Need to get out? Community ice rinks are up and running around Guelph. Check here for where. 

Prefer to stay in? Visit our friends at Royal City Nursery and grab some greenery! We love to pick up a new plant each year to freshen things up after removing all the holiday decor. 

Support local businesses - Downtown Guelph will be hosting a WINTER sidewalk sale February 10th - 17th. 

If you need to warm up a bit, check out Cavan Coffee in the South End. We LOVE their seasonal espresso offerings. 

Client Congratulations 

CONGRATULATIONS to our incredibly focused and flexible client, D. Never have we ever had to navigate so many interesting hurdles but we did it and it would not have been possible without your partnership. Now it's time to start your next chapter near the water and among many, many trees!

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ON TO THE NEXT ONE! It took some time to find the right buyer, but patience paid off for our investor, A. Patience and a lot of open communication. The seasons came and went, and eventually we found an out of town buyer looking for this exact type of property. Timing can be everything, even if it isn't immediate.

STAY IN THE KNOW

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