Spring is just around the corner…
As we roll into Spring, and buyers are licking their wounds from a very lopsided seller’s market, we are seeing trends develop in the Guelph and surrounding area real estate market. With inventory still very low, sellers are in the driver’s seat and they are seeing properties in the neighbourhoods sell for record-breaking numbers.
I will be the first to tell you that I do NOT have a crystal ball and I can’t predict the future, but I do believe that after coming out of the “Covid 19 Stay Home Order”, and as we enter into better weather, we may be seeing more homes come onto the market as sellers grow more comfortable with the idea of strangers coming through their homes. This may be a pipe dream, and I am not a fool to think that we will suddenly see a balanced market this Spring, but I am hopeful that a slight influx of inventory may result in some relief for those buyers who have spent the last 2 months being aggressive searching and still coming up short.
That being said, I do believe that the value of these homes is being solidified with sale after sale proving their worth. So as I hope there may be less pressure while purchasing a property, I do believe the values will not waiver and the current prices of these homes will remain similar.
I hope this brought some insight into my thoughts on this explosive market, but as always, don’t hesitate to reach out with any questions or inquiries.
All the best,
Nick
