We hope that you enjoyed the holidays and took time to relax and catch up in the company of good friends and family. It’s these early days of January that we look forward to the year ahead – making plans to travel, eating healthy, working out more, balancing work and personal life! With income tax and RRSP season around the corner, it’s also a time to review our financial situations.
2016 was one of the hottest years for real estate sales. No question – it was a seller’s market with a shortage of inventory, causing prices to rise with multiple offers on almost every listing. Very positive for sellers, however a frustrating process for many buyers unable to secure a home. It was also an interesting year of lifestyle changes, as we saw younger clients moving from condos to houses and boomer clients moving from larger homes to condo ownership and leasing. With the many new condominium developments in Guelph, there is now more choice, based upon which neighbourhood you would like to live in – downtown, mid-town, south-end… and certainly more to come in this upcoming year!
We anticipate that 2017 will continue to be a strong market for real estate. Having a strategic plan to meet your personal objectives is key to any successful purchase or sale. If you are considering a move this year, Planet Realty has established a network of service providers to assist you in de-cluttering, packing, fixing that leaky faucet, minor home repairs, staging and more!
RiverHouse Market Watch
Well, RiverHouse was certainly a condo building to watch this past year. With approximately 90% of the building being owner occupied, when suites hit the market for sale, they lasted only a few days. Anxious buyers simply paid the asking price or bid in a competitive situation. Indicative of market conditions, prices continued to rise throughout the year.
The following are a few of the 2016 highlights*:
1. Macdonell Suite – 1,003 sq. ft. (1 bed + den) on the market for 22 days, Sold for $385,000.
2. Norfolk Suite – 1,558 sq. ft. (2 bed + den) on the market for 7 days, Sold for $601,000.
3. Nottingham Suite – 1,565 sq. ft. (2 bed) on the market for 1 day, Sold for $599,900.
New Neighbour – If you have not had an opportunity to check our Robusta, they are the new neighbourhood hub, located at the base of RiverHouse on the corner of Woolwich and Macdonell. Serving gourmet coffee, pastries, wine, craft beer and appetizers. Relax and enjoy the upscale environment they have created for our neighbourhood! Rated 5 Star by the locals!
River Mill Condos
New residents began moving in early December, 2016. Move-in’s will continue through the early part of this year as the building is completed. The stunning lobby, amenity areas and outside gardens and terraces make River Mill a very unique and sophisticated residence. Check out these incredible pictures!!
There are just a few suites available for sale by “Assignment”. This is your last chance… As well, through the Planet Realty Leasing Program, we have been successful in finding tenants for owners leasing their suites. (Click Here For Suite Availability). If you, your friends, family or colleagues are interested in owning or leasing in RiverHouse or River Mill, connect with us and we can give you current and accurate information. We have a database of qualified buyers/tenants interested in both buildings.
New Condominium Projects in 2017
It is official, the Tricar Group will be launching a master planned condo community in the south-end of Guelph. To keep informed of details as they are released, we encourage you to register on-line at www.tricar.com. Planet Realty is once again looking forward to representing the Tricar Group on this incredible project! Stay tuned….
If you would like more market data on real estate values or have questions, email or call us anytime. We network with people every day! We are committed to working with our clients to provide the best service and attention.
BE IN THE KNOW…
Please check out our blog, www.guelphism.com for interesting stories on real estate and living in the Royal City!
As well, check out our website, www.planetrealty.ca for current listings. Many times we have Exclusive Listings that are not advertised on Realtor.ca.