THE SHOE DROPS

Just over 4 years ago I started this weekly blog and sales report.  Every Friday for the past 221 weeks we’ve published a blog post and weekly summary.  Posts included a weekly summary of sales in each neighbourhood around Guelph and included the sold price, days on market, and a summary of the properties sold. It wasn’t pretty and we felt pretty confident that we weren’t violating any privacy or board rules in the process.  We kept the reports hidden, and only subscribers were able to see the reports.  It wasn’t an easy task to do each week and keep the blog content relevant and interesting.  It was primarily a forum for me to educate on local market conditions and put some relevance to the small bits of information that consumers had access to.  The media, be it local or national like the Globe or Star focus on the major urban areas.  Guelph tends not to show up much – if ever at all. 

Our goal was to help educate the local consumers.  They had listing information available through Realtor.ca or local agents advertising properties for sale.  There was no background or additional data available to complete the story for consumers.  Realtors were very much in gatekeeper mode, and believed that it was their right and duty to withhold information vital to a consumer. 

Over the ensuing 4 years of reports, clients and subscribers have given us feedback about the value and relevance of sales data being available to them.  It’s helped consumers become better educated around market conditions, and what to expect if they were buying or selling.

Knowing numbers like days on market, sales price to list price ratio, and sales prices – in our opinion – helped consumers make rational and educated decisions around their real estate investments.

Fast forward to today, and it is clear the gatekeeper mentality is still firmly gripping the real estate industry locally.   We’ve been told that our site isn’t “secure” enough and that we’ve been giving out too much information. 

We will be updating our site over the next few weeks, and for the short term will have to reduce our reports to summary data until we can ensure our site is locked down.

It’s unfortunate that in this environment of open sources and enhanced consumer knowledge and choice that some parts of our industry believe that restricting access and information is “better”. The question is, better for who? 

LAST WEEK IN THE GUELPH REAL ESTATE MARKET:

46 homes were reported sold, of which 34 or 73.91% sold at or above list price.  While new listings have started to increase slightly, demand still exceeds the incoming supply.

The median home sold in Guelph was a 3 bedroom, 3 bath, 1,473 sqft home.  That home sold for $646,250 or $432.15/sqft, and took 6 days to sell.  Homeowners were able to command 102.08% of their original list price.  The most active area in Guelph was the Grange Road Neighbourhood, with 11 homes sold and a median sales price of $658,000 (109.11% of list price).  

You can see the stats for the rest of Guelph’s neighbourhoods here

Our quest to keep you informed about the local real estate market will continue. We will keep you updated as we revamp and update our site over the next few weeks.  In the meantime, we will continue to publish weekly summary information.  If you have any questions or need additional information, our team is here to serve you.  

You can count on us for accurate and detailed information for all your real estate needs.

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