Another regular update on changes in local market due to the Covid-19 pandemic. As I talked about last week, sales volume continues to decline as expected and shows the local Real Estate industry and market is doing what it can to flatten the curve.
Many Realtors like myself look at statistics to help us value and market properties. These stats are the same ones we look at to gauge the individual markets we represent. A community like Guelph can often show different trends from those in Toronto or even Waterloo Region. So, to provide a more intensely local look at Guelph real estate, the information below focuses on Guelph.
At the beginning of each month, the Home Price Index gets updated to reflect sales written in the months previous. This along with some other stats that we have access to gives us an indication of how to price a property relative to what the market is doing. It also allows us to understand where the market might be going in the future.
As I’ve mentioned previously, we came into this with very strong demand and a continuation of low inventory numbers. This trend continued early in March and has helped the average single-family home in Guelph rise by about 1.8%. Apartments, townhouses and single-family homes all saw increases in value in March. April is going to be hard to predict, but I suspect we’ll see modest changes if any in Value.
The statistic that should show the most variance from normal activity throughout this global pandemic is Sales Volume. March 2020 showed a very modest increase in sales activity with only 9 more transactions than February. Comparatively, March 2019 had 55 more transactions than the month prior. I expect April 2020 will show a decline in the number of monthly transactions compared to normal years. This isn’t a bad thing, this means that my colleagues and consumers are doing what we are being asked to do, STAY HOME.
There are many more statistics that I have access to, however, these are the two that I felt would most indicate what is happening right now, and what to expect moving into April. As always, I can be reached at 519-820-6979 or firstname.lastname@example.org. If you would like to chat real estate, statistics or otherwise, please just reach out.
Michael Bennett and his partner Beverly-Ann Woods started recording their thoughts, and adventures during the self-isolation period of Covid-19. What started as a way to stay connected, yet physically distant with friends turned into a regular fun and upbeat video series.
Every once in a while, a store opens that makes the city, and in this case a neighbourhood so much better and more cultured. Tomme Cheese Shop in Downtown Guelph does just that. A cheese shop, after all, has to provide some culture, right?
Yesterday I picked up my first of 3 Cheese of the Month boxes from Tomme and enjoyed it along with some other appetizers with friends. A quick stop was made easy by parking in the new Wilson Street parking garage and walking across the street. My mystery package was in a nice box secured with a piece of stylish string, presentation reminiscent of traditional retailing.
Those who know me, know that I love cheese, even a simple grilled cheese sandwich. So, as I opened the box of cheese, I felt like a kid on Christmas morning opening the big gift. This was a Christmas Gift after all. Inside, individually wrapped was 3 kinds of cheese, a Chutney, and cue cards describing each cheese along with pairing notes.
Without ruining the surprise for others, all 3 of the cheeses were delicious along with the Chutney and I recommend you check out Tomme Cheese Shop soon. After all, everything tastes better with cheese, and downtown Guelph is better with Tomme Cheese Shop. Thank you Beverly-Ann, it was an awesome Christmas Present. I can’t wait until next month.
Marking the end of an era, the Guelph Mercury’s last edition rolled off the presses 4 years ago today. As someone who identified himself as a “Newspaperman” and advertising Sales Representative for nearly 27 years of it’s existence, it was a very memorable day.
From inside its walls, The Guelph Mercury represented a tight-knit family of employees who continually achieved more. Our journalists often won big awards at the Ontario Newspaper Awards and our local advertising reps worked hard to maintain strong local ad revenues despite a national downward trend. On January 24th, 2016 we found out it wasn’t enough. It was announced that Metroland Media Group would be shuttering the Guelph Mercury on Friday, the 29th, 4 years ago today.
From this writer’s perspective, it was the people who made it last that long. The Guelph Mercury was the underdog. It was the small daily paper in a medium-sized market that continually saw it’s national advertising revenue decline, and yet the local revenues were stable amongst a small group of dedicated sales representatives. The people, sales reps, journalists, circulation, production and support staff together were the heart of the Guelph Mercury.
In January the following year, I started a career as a Real Estate Sales Representative with Royal Lepage Royal City Realty in Guelph and as much as I enjoy my new colleagues, they will never replace the group that worked late, met deadlines, won awards that the big dogs wanted, and occasionally threw nerf footballs around the office.