Real estate market in Guelph heating up. Get in while you can.

Guelph real estate

A high demand and low supply of any product or commodity is an enviable situation for someone on the right side of it! When it centers on real estate, it also involves lifestyles, homes, families and investment opportunities. For potential home buyers, this may seem a daunting challenge, but it is one, depending on circumstances, that could also provide them with a lifetime advantage. It’s also a situation which calls for some sound advice from a professional mortgage broker in Guelph.

Areas that include Guelph, the majority of Wellington County and various rural communities located between Guelph and Milton, experienced 3,235 home transfers during 2016. This represents an increase of 8.7 percent increase compared to 2015. It also saw real estate prices increase to the average extent of 12.7 percent above those seen in 2015. If you are a potential home buyer or investor, contacting a Guelph mortgage broker should now be one of your primary considerations. Why? Because this is an opportunity that will not be available for too long as the availability of saleable real estate diminishes!

Real challenges

It’s reported that the year 2017 began with just 131 local properties listed for sale in the Guelph area. Your mortgage broker in Guelph could advise you how this position compares buyer-investment-wise to that of 2016. Then, contrastingly, there were approximately 300 properties listed for sale in the same area.

Further professional related reports show that real estate activity in Guelph and surrounding areas listed 6,655 total residential sales in 2016. This is 18.1 percent more compared to the previous year. A Guelph mortgage broker will help you determine the financial implications of buying real estate now and its future potential. What must also be taken into consideration is that those properties sold for an average price that was 10.8 percent higher than the average price in 2015.

Guelph mortgage broker

A further issue that could arise for sellers of properties is that while they are in a seemingly financially strong position, it is somewhat nullified should they plan to either buy a larger property, or downsize.  Again, it is a question that needs specialized financial and market-related advice from a mortgage broker. It is an opportunistic situation that calls for immediate experienced attention, with two factors playing the influencing roles; unceasing real estate demand in Guelph and the limited amount of real estate for sale!