Where are the Opportunities? - Issue 356


We’re at an interesting point in the year.  Usually by now we are well into the spring real estate market.  This

year was a little slow out of the gate and the brutal March weather certainly didn’t help much.  The spring

market has certainly arrived now and the activity level has climbed along with the temperature.  

We’ve talked about inventory levels extensively over the past few months.  Despite the fact that the number of new

listings entering the market is still at an all time low, the number of homes available for sale in Guelph has

increased by 26% over the same period last year.  This coupled with the fact that median days on market have

doubled to 13 days is actually good news. There is more selection and time for those buyers actively looking

in today’s market.  

Now, if only sellers would take the hint and start listing properties!

Sellers today seem to have missed the news that the market is actually quite active- there are plenty of

buyers actively looking to buy, and not just tire-kicking.  So I’m actually a little confused as to why someone

wouldn’t want to take advantage of the demand from buyers and put their home on the market. I’ve been

working the Guelph and regional real estate market for over 35 years now and have seen my share of shifting

and down markets.  

This is not a down market! 

This market is probably as close to normal as I’ve seen in over a decade.  

Demand is steady and even strong from entry level to move-up to investors.  Prices have bottomed out and

interest rates, at least 5 year rates, are either steady or decreasing slightly.  So, what’s not to like about this

market? 

What I do find interesting is the amount of confusion that still exists in the marketplace.  Part of this confusion

is caused by the numerous marketing tactics being used to sell homes.  I’m surprised to see there is still a

significant number of properties being deliberately listed under value in order to generate a ton of activity and,

hopefully, multiple offers.  In some cases it still works, in others, the tactic pushes buyers away from the

property because they either don’t want to compete or are genuinely confused by the tactic.  

The ability to gauge the potential sale price of a property is extremely difficult in this market. What I am seeing

is that buyers seem reluctant to “try” an offer and I guess we could chalk that up to the battle scars from the

last 2 years when everything was selling significantly over list price.  

Seller expectations in this market are likely still in 2022, and that will just take time to resolve.  

In the meantime, there are opportunities for both sides of the market.  Prices are still above pre-covid levels

and there isn’t a lot of downward pressure at the moment either.  Interest rates are steady, inflation is slowly

moving back down.  There are no red lights at the moment.  


All of this essentially is a preamble to our Empowered Homeowner seminar being held on April 25th  at

7:00pm.  This will be an open conversation about taking control of your finances and how to build long term

wealth for your family. Saving for retirement? Your kid’s education? Or are you worried about how your kids will

be able to afford a home when it’s their turn to buy?  We’ll address all of these questions at the seminar.  

It’s free and best of all, it may give you the knowledge and momentum you need to jump start your wealth

building efforts.  Follow the link below to register for this free event.

Register Here: www.eventbrite.ca/e/become-an-empowered-homeowner-tickets-592518778617


Want to search for opportunities in your area?  

Search for Homes Here

Enjoy the weekend.  

Paul

 

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