The real estate market and the financial world are so intertwined that they react in sync to changing conditions. In 2020, and now 2021, the COVID-19 pandemic is now part of that equation, like it or not.
As the Broker of Record for Planet Realty, I can say that without question, our sales team of late has never been busier. Homes with yards and green space are in high demand with people moving from condos, moving out of the GTA to get closer to family, or now having work at home options. This is now the new norm, a trend which the market has never quite experienced before.
We are deep into a seller’s market- a result of a low supply of homes on the market and a surging demand from buyers. Sellers are now holding back offers for a week or a few days creating a frenzy of 10, 15 or 20+ buyers submitting competitive offers to purchase a home. In Guelph, a few recent sales have recorded offers of $200,000 or more above the asking price. With only one offer being accepted, and thus one successful buyer, that leaves 10, 15 or 20+ disappointed buyers now in search again… and this can be repeated many times over. This process can be very discouraging for many, many buyers; and the stories of disappointments are plentiful.
If you are one of the discouraged buyers, why not consider purchasing a new condominium? It may delay a home purchase for a year or two, but in that time you can build equity and buy a new condominium in a more balanced and tolerable market. And, if you are an empty nester, retired, or semi-retired, this is an excellent window of opportunity to sell your home for big dollars and move into the condo market!
The Sales Office at Gordon Square Condos in South Guelph has seen a spike in traffic where frustrated and sometimes exhausted buyers are coming in to secure a new home! Why? Because the price you see is the price you pay- no need to worry about competitive offers driving the price up further! Tricar offers a great selection of 2 bed and 2 bed + den suites, as well as luxurious penthouse suites. Just think, there is no over-paying, no need to renovate- you get a high level of finishes include engineered hardwood, quartz or granite countertops, stainless steel appliances, crown moulding, windows blinds and more. It is a turnkey purchase ready to move in the day you take occupancy.
I invite you to visit Gordon Square today! Please call or email today and schedule an private appointment for a full orientation and suite availability.
Karen Kessel
Broker of Record
Planet Realty Brokerage Inc.
Direct Line – 519-400-7120