Guelph & Tri-City Housing Market Stats – January 2025 Update
Normally I would be providing you with the January Guelph and Tri-City Housing market stats, but I don’t actually have any reliable statistics to report. Back in December, the Guelph & District Real Estate Board merged with a number of other Real Estate Boards throughout the Province. This merger led to a new listings and stats database, which has created issues with merging listings and sales data.
I trust that our Real Estate Board will have the data worked out soon, but for the time being, it’s best that I don’t provide inaccurate figures. With all of this said, I can tell you that we are currently experiencing a balanced market, which provides opportunities for buyers, sellers, and investors.
For Buyers:
A balanced market works in your favour. With more inventory to choose from, you will face less competition and have greater negotiating power. Prices aren’t skyrocketing like we’ve seen in the past few years, making this an excellent time to purchase the right property without stretching your budget.
If you are waiting for interest rates to come down before buying, consider buying now while there isn’t much competition. You can always temporarily secure a variable mortgage, and fix the rate at a time in the future when rates are lower.
For Sellers:
Even with an increase in new listings, overall inventory levels are still below the long-term average. This means the market isn’t oversaturated, and buyers remain active. It’s all about pricing your home accurately and marketing effectively.
For Investors:
Whether you’re looking for a rental property or planning to flip a home, now could be a good time to act before prices rise again in more active seasons like spring. Remember, investment properties are meant to be held long term unless the investment is a fix and flip. Returns might be low initially, however, over the long term properties bought years ago have had significant price appreciation and income appreciation.
If you are considering a move or investment this year, the best time to start the conversation is now! Feel free to reach out any time. I would be happy to help you achieve your Real Estate goals.