Village by the Arboretum: 2017 Year In Review

Karen KesselAround Guelph, For Buyers, Planet Realty, Real Estate News, Retirement

PondThe 2017 local real estate market was unlike anything many of us have ever experienced. The price growth, the competition & the number of offers on properties both in and out of the Village by the Arboretum were surprising and challenging. This led to exceptional growth in equity for existing Village residents!

In a typical year, the Village will experience 30 – 40 real estate transactions, amounting to a 5-7% annual turnover. The VBA is a niche, adult lifestyle community, attracting the 55+ market and operates within a more specific, refined market segment than other residential communities. With that said, the 55+ segment of the market continues to grow at unprecedented rates, creating opportunity for current homeowners to see strong returns on their homes, and future prospective owners to recognize a prosperous long-term investment.

After two above-average years of sales volume, which saw 41 & 47 properties sell in 2015 & 2016 respectively- 2017 saw just 37 properties change hands, the lowest total since 2014 saw just 30 homes sold. This restricted supply combined with demographic shifts outlined above and prospective buyers selling their previous homes with favourable terms helped fuel a feverish spring market that carried on through much of the year. Further to this, for just the second time in six years, the VBA saw a month without a sale, as January 2017 came and went without a single transaction, queuing up a perfect storm of a tight supply coupled with anxious and willing buyers.

As the year progressed, we did see a small cooling, which is not atypical for the season. The last 7 properties to sell in the VBA in 2017 sold at or below list price. For context, 18 of the first 30 sales sold above their list price.

Since our arrival in 2011, Planet Realty Inc. is proud to have listed and sold, by a wide margin, more homes and condominiums in the VBA than any other realtor or brokerage in Guelph. Should you be considering a purchase or sale in Ontario’s Premier Adult Lifestyle Community, our real estate services, knowledge, and relationships with many buyers & sellers are a definite asset to you.

For a full copy of our 2017 Village by the Arboretum Annual Real Estate Report, visit us at 33 Bayberry Drive, Guelph, or give us a call at 519-837-0900 and we can ensure you’re well versed in one of Guelph’s most desirable, luxurious communities!