September 2023: A Closer Look at Guelph's Real Estate Trends

Dated: October 4 2023

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a photo of RiverMill Condos in Guelph

By Michael Bennett, Your Local Realtor

 

Single Family Homes: A Steady Rise

We'll start with some good news for homeowners in Guelph. According to the Canadian Real Estate Association's Home Price Index (HPI), the value of single-family homes in Guelph has seen a notable uptick. From August to September 2023, we've witnessed a healthy 1% increase in their value. This upward trend highlights the enduring appeal of Guelph's serene neighborhoods, making it an attractive destination for families seeking spacious, comfortable living.

This rise in single-family home values showcases the enduring demand for larger properties with room to grow, a testament to Guelph's charm and the desirability of single family homes in our real estate market.

 

Townhouses: A Slight Dip

On the flip side, townhouses in Guelph have experienced a minor dip in value, down by 1% during the same period. While this may seem like a small adjustment, it's essential to remember that real estate markets can fluctuate, and this change doesn't necessarily indicate a long-term trend. Townhouses continue to be a popular choice for those seeking a balance between space and affordability, making them a steady contender in our real estate landscape.

 

Apartments: A Mixed Bag

Now, let's talk about apartments, where we see some variations in values. Guelph's apartment market has shown a 2.4% decrease in value overall, but it's important to note the distinctions between different areas.

Downtown Guelph: Apartments in the heart of our city have experienced a more moderate decline, down by 0.9%. This may be attributed to their proximity to amenities, making them an appealing choice for urban living enthusiasts.

South Guelph: Apartments in the southern part of Guelph, on the other hand, have seen a more significant decrease, down by 2.9%. This difference in value change highlights the importance of location in real estate. South Guelph apartments may offer different advantages or face distinct market conditions, leading to this variation.

 

The Guelph housing market continues to be dynamic and appealing, with single-family homes standing out as a solid investment. Townhouses remain a viable option, while the apartment market experiences variations based on location. As always, it's essential to consult with a local real estate professional like myself to navigate these nuances effectively.

Stay tuned for more updates, and if you have any questions or are considering a move in the Guelph area, don't hesitate to reach out. I'm here to assist you in finding your dream home in this wonderful city we call home.

[Disclaimer: The statistics mentioned in this newsletter are based on the Canadian Real Estate Association's Home Price Index (HPI) data for August to September 2023. Real estate market conditions can change, and it's advisable to consult with a local real estate expert for personalized advice.]

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Michael Bennett

Michael Bennett's bond with Guelph is more than just a professional commitment; it's a lifelong love affair with the city he calls home. Born and raised in Guelph, Michael has developed a deep and inf....

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