GTA Real Estate Buyer shy away from Guelph

Real Estate Demands in Guelph Slows

The latest monthly report from the Guelph & District Association of REALTORS® (GDAR) shows that the number of home sales in the Guelph area has declined sharply since the beginning of the year.The report shows that sales in the first quarter of 2022 are down compared to the same period last year. This is a significant change from the trend in recent years, when the Guelph real estate market has been one of the hottest in the country.

There’s been sharp decline in sales to the “retreat” of buyers from the Greater Toronto Area (GTA), who have been a major source of demand in the Guelph market in recent years. The report notes that the slowdown in demand from the GTA is “a major factor” in the current market conditions.

Also noted that the decline in sales has been accompanied by a decrease in the number of homes selling for above the asking price. In early 2022, over 90% of homes were selling for above the asking price, but that figure has declined to around 70% in recent months.

With fewer buyers in the market, sellers are having to adjust their expectations and selling strategies. The  “holding offers” is being replaced by “irrevocable offers” in many cases, as sellers look to avoid the risk of having their home sit on the market for an extended period of time.

The current conditions in the Guelph real estate market are a far cry from the conditions that existed just a few months ago. In early 2022, the Guelph market was so hot that homes were selling in just a few days, often with multiple offers.

The current slowdown in the Guelph market to the “retreat” of buyers from the Greater Toronto Area.

Get Priority Access to Must SELL, Price Reduced, Bank Owned and Off-Market Homes For Sales. Signup Below

real estate market guelph

If you’re looking to sell your home, it’s crucial to get the price right. This can be a tricky task, but fortunately, you don’t have to do it alone. By seeking out expert advice from a seasoned real estate agent like Tony Sousa from the Team, you can get the guidance you need to determine the perfect price for your property. With Tony’s extensive experience in the industry, he knows exactly what factors to consider when pricing a home, and he’ll work closely with you to ensure that you get the best possible outcome. So why leave your home’s value up to chance? Contact Tony today to get started on the path to a successful home sale.

Tony Sousa

Guaranteed! Your Home SOLD or I’ll Buy It

Tips on Buying A Home and Selling your House