Are buyers starting to get some of the power back as the market slowly cools with the changing season, for instance?

As a result, numbers are suggesting, yes. Which isn’t the best news for sellers. The days of holding offers to maximize sale price are slowly disappearing for all.

What do buyers and sellers need to know about the current housing Market in Guelph?

For instance, home buyers should be aware of current interest rates and government regulations placed on borrowers. Over the past 7 months, we’ve noticed an increase in the number of first-time homebuyers.

This can be associated directly with rising interest rates and the new government regulations implemented in January 2018, for example. These guidelines require lenders to qualify prospective buyers.

180913 Guelph condo

Condo development in Guelph has gained significant ground over the past two years, for instance.

It is important to understand condo fees and any additional costs, as they vary by development, for example.

As a result, let’s look at the Guelph map for insights into size ranges. We’ll also review competitive details and some neighbourhood options for each, for instance.

Under $350,000

Percentage of Guelph houses sold in this price bracket: 16%

Average square footage in this price range: 935

Average selling price as a % of original asking price: 97.5%

Neighbourhoods on the Guelph map with the most sales in this range: Onward Willow/ Dovercliffe

Between $350-$500K

Percentage of Guelph houses sold in this price bracket, 2018: 41%

Average square footage in this price range: 1,228

Average selling price as a % of the original asking price: 99.8%

Neighbourhood on the Guelph map with the most sales in this range: Grange Rd

Between $500-$600K

Percentage of Guelph houses sold in this price bracket, 2018: 20%

Average square footage in this price range: 1,913

Average selling price as a % of the original asking price: 100.3%

Neighbourhood on the Guelph map with the most sales in this range: Grange Rd

It’s worth noting that if you are looking for a home in the $500-$600K mark, it’s very competitive, for instance. As a result, you’re more likely to find a deal if you’re shopping in the $350K or less price.

Between $600-$750K

Percentage of Guelph houses sold in this price bracket, 2018: 15%

Average square footage in this price range: 1,803

Average selling price as a % of the original asking price: 99.8%

Neighbourhoods on the Guelph map with the most sales in this neighbourhood: Pineridge

Over $750K

Percentage of Guelph houses sold in this price bracket, 2018: 8%

Average square footage in this price range: 2,444

Average selling price as a % of the original asking price: 98.7%

Neighbourhoods on the Guelph map with the most sales in this range: Old University in the University of Guelph area, for example.

For more information, contact us! We’d be happy to help!