MARKET minute with MATT & MELISSA
Jump to:
CURRENT MARKET TRENDS
-
SELLERS: Pricing your home right is crucial in today’s market. Homes that sell quickly in Guelph (under 14 days) have zero price reductions. In contrast, those sitting on the market for 60+ days have all experienced at least one price drop, and many had several. Getting it right from the start can make all the difference.
-
BUYERS: Now is a great time to find hidden gems! With more inventory in Guelph than we’ve seen in over a decade, there are plenty of options for buyers. If you're ready to move, there’s great value waiting.
-
We remain in a balanced market. Homes are staying on the market longer, giving buyers more time to make thoughtful decisions. Offers with conditions like financing, inspections, and even the sale of another property are continuing to be the norm.
-
How long will the market stay this way? That is anyone's guess, however, with the language that the Bank of Canada has used regarding future rate decreases and the amount of phone calls we are getting right now from Seller's eyeing the Spring to list, we would expect the Spring Market to get a lot more active with both buyers and sellers looking to make some big moves
We're so glad you could make it!
Fall is one of our favourite times to gather with you all! Everyone is transitioning from the fun & excitement of Summer into a new season of cooler & calmer reflection in the Fall.
We had the pleasure of seeing so many of you at not one but two events over the past month. Thankfully the weather held out for both our Annual Client Appreciation party at Fixed Gear Brewery (always a fun & casual spot to hangout), and our Pumpkin Palooza this past weekend.
It's not too late to sign-up for
PUMPKIN PICK-UP!
Along with our neighbourhood pumpkin event, we added a new addition - FREE pumpkin pickup when your creations (or just decorations) become old and ugly.
​
We will be picking up gourds & pumpkins Nov. 2-3 around Guelph and disposing them safely at the dump.
​
Would you like us to grab yours too? even if you couldn't make it to our event.
Is selling on your mind for 2025?
_edited_jp.jpg)
If so, is your home sale-ready?
We’ve been having many conversations with our clients about the steps they can take NOW to prepare for a successful sale in 2025.
So here's a little exercise to help you identify your readiness to sell and prioritize where your energy & resources may be required to help your home shine it's brightest.
! ATTENTION !: Condo Investors
Is it Better to Sell With or Without Tenants?
Data from the past 90 days in Guelph shows that condos without tenants sell for a higher price per square foot. Plus, vacant condos face far less competition—with just 4 months of inventory compared to 11 months for tenanted units.
But, if you're thinking about going vacant you will need to:
-
Negotiate with your tenants to vacate—this could involve financial incentives.
-
Be prepared to cover the costs of carrying a vacant property until it sells.
Of course, the first question to ask is: Is now the right time to sell? Let's chat and explore your options! Data source: OnePoint Association of Realtors, Condos sold in the City of Guelph, P90 days as of October 9, 2024
Matt's
Thoughts...
Noteworthy
So what's going to happen with the next interest rate announcement?
Here's a quick summary from Canadian Mortgage Trends:
​​
-
Economists are split: Will the Bank of Canada cut rates by 25 or 50 basis points?
-
Strong job growth in September suggests a smaller cut (25 bps).
-
However, some argue economic challenges could push for a larger cut (50 bps).
-
The final decision will depend on the latest inflation data (which was just announced at 1.6% for September) and other economic indicators.