The traditional “spring market is heating up” rhetoric may or may not be overplayed, but the reality is: The spring market is where all the action happens. It is without question the most popular time of year for listings to hit the market, as sellers aim to capitalize on the better weather for marketing and showing their property. It also bodes better for families, setting up a moving day ahead of when kids go back to school, making for an easier transition for everyone.
Market conditions create opportunities, though different circumstances influence who holds the upper hand. A few listings could trigger a boom in Guelph this spring, as the way things stand, the market is very seller-friendly. The quantity of transactions in Guelph is down from this time last year, though average prices have continued to rise. The numbers seem to suggest a shortage of available properties, which coincides with the consensus among Realtors. With more buyers than sellers, great properties should sell rather quickly, as buyers have additional motivation to act.
With a shortage of properties on the market, as you could expect, homes have flown off the shelves. The average number of days spent on the market is around 27 days, which is exceptionally quick. The sale to listing ratio has been floating around 70% as well, suggesting that the majority of listed properties are selling well within a reasonable time.
If you were considering a move in the coming months, a sellers’ market presents a great opportunity for a seller to capitalize. It means your likelihood of achieving a timely sale, in a market more willing to pay your asking price, improves significantly. There may be a lot of hype around the spring market every year, but it always seems to live up to the billing.
Planet Realty is a full service brokerage and has a firm understanding of Guelph’s real estate market. We guide both sellers and buyers through the process. If you are considering selling or buying a home, do not hesitate to contact us. We are here to help!