Keeping an eye out for market trends and stats is part of our job, but to be fair before we got into Real Estate as a career it was a hobby. The more we chat with our neighbours and friends we are learning that this is not an uncommon interest. Real Estate ownership is the most common investment, making it a thread that connects our conversations.
So! We decided because we live here in Onward Willow & The Junction, and are always ready with property value information to share, why not share with our neighbours in a monthly blog.
Freehold & Condo Homes, our neighbourhood has a wide variety of style, and with that some long term residents who have customized their homes to their growing families. With all of these variables, it is hard to nail down an “average sale” price of homes in Onward Willow/Junction. We will try to break it down the best we can…here we go
Buyer Motivation: Our area is wedged between Downtown Guelph and the Hanlon Expressway. Buyers looking at Downtown/ Ex-Park/ St. George’s and The Ward, are finding themselves priced out of what they want to buy. We are literally just across the street from Sunny Acres Park, and a straight shot to the 401, and we have similar red brick homes, bungalows, one & a half homes, and some similar 70’s side splits. With additions like Fixed Gear Canteen and the original Alma location and the Dog Parks, we are quickly becoming the new favored neighborhood of GTA buyers.
Year Over Year Values & Percentages: Our postcard update went out and that may be how you found this blog, if not here is a breakdown of the numbers.
FREEHOLD: This includes all homes in Onward Willow & The Junction, and it is the Average. Again, we have a variety of styles of homes, we can easily break this down for the Brick & Stone homes, the bungalows the one and a halves, and even street for street.
We have seen unprecedented numbers in January 2021, we are still trying to navigate the waters of where these numbers are going, but as we can see since, after 2016, when real estate was seeing a boom and it was being called a “bubble”, the sale prices have steadily climbed. We can pull these numbers going way back, and the story is the same, tiny dips and dives, but mostly steady climb. Really the numbers and the pace of the market only matter when you are actively buying or selling.
CONDO: These numbers will be interesting to watch in the next year. There are many new build stacked town home condominiums coming to this area, and their numbers have not been recorded yet. We have town homes, and what we call “Lifestyle” Apartments (1000 sqft apartments with oversized balconies). We are already seeing the steady increase. Here is the break down:
The Condominium market has seen a steady increase that is significant for the last 5 years. This is the area we believe will see the most increase in Guelph. Outside of the stacked town homes being built, the 2021 market is increasing values over the whole city, once the listings start coming up in this area we will see a strong interest and buyers picking them off the market quickly.
We won’t be able to truly see what will happen with the current prices until we get a little further into the year, as we learnt in 2020 we shouldn’t put our cart before the horse. I do know that our buyers are firing offers, coming out of the wood work, and our Sellers are feeling confident and everyone should, as far back as we can see, numbers & interest in this area are strong and steady.
Reach out for more info!