As everyone said earlier this year, the real estate market was about as “Hot as it could be”. It was only a matter of time before inventory increased and the slower, summer market arrived. We are still seeing a number of sales, and homes are certainly still moving, just not at a rate that perhaps current sellers would hope.

This year has a number of similarities to the 2017 real estate market in that early in the year, there was a lack of inventory that leveled off as the Summer came around. There are some opportunities here for buyers who have been waiting to jump into this Guelph real estate market or for investors to add to their portfolios.  And for Sellers, patience and accurate pricing will go a long way to getting these properties sold, in a timely manner.

As you can see from the market stats below this month is the first month we are not seeing an increase in average sale price across the city (compared to the same time last year) in a few years now. Things have definitely slowed as we see a shift from a seller’s market to a buyer’s market.

Any questions on the current state of the market, interest rates, or any other real estate inquiries, don’t hesitate to reach out and Let’s Talk Real Estate.