While the market is booming in all areas of Wellington County, our little corner of the world here is just starting to rumble. Guelph traditionally has a seasonal market, with Investors taking up the first quarter of the year buying and selling just in time for the University students to sign May-May leases. The second quarter starts the family market, people wanting to get moved before the end of the summer. This is Onward Willow/ The Junctions time to shine!
Investors do love our area, there is a generous amount of bungalows with separate entrances that allows for multi unit dwellings, and we have our share of infill lots for the more ambitious major renovation or fresh build. Watching the numbers, we know that this area is worth it. Cost of building has gone up significantly from approximately $250-$275/sqft in 2020 to $350-$400/sqft, mostly because acquiring materials is costly with closures and full shut downs. With the increase in property values, this maybe a viable option for buyers tired of the market.
Here is what we know about February Sales in our area from…..
2021 Average Freehold Home Sold Price – $621,100 2020 Average Freehold Home Sold Price – $513,000 Difference – +21% 2021 Number of FH Units Listed – 11 2021 Number of FH Units Sold – 6
2021 Average Condominium Home Sold Price – $420,000 2020 Average Condominium Home Sold Price – $332,000 Difference – +27% 2021 Number of Units Listed – 2 2021 Number of Units Sold – 2
Days On Market Onward Willow – 11 Days On Market Guelph (Average) – 6
As we can see here, we are on the tip of the iceberg for the spring market in Onward Willow, and property values are already looking up!
We hope this was helpful, we figure we live here, we know the stats, so why shouldn’t you.
Reach out if you want to chat any time.