March 23 – Update

Guelph Real Estate Results amidst Covid-19

Well, the world has changed in a week! Many people are returning home from March Break vacations, some of which were cut short. Snowbirds have returned home earlier than normal and Ontario has just announced the closure of all non-essential businesses for the next 2 weeks to further the message of social distancing and self-isolation.

I don’t know how that will impact the Guelph Real Estate Market long term. The market was VERY Hot entering March break with a low inventory of homes for sale and what seemed to be a growing number of buyers. Between March 16 and March 23, 2020 (the last 7 days) we saw a net gain of just 4 homes for sale. In that time period, Guelph itself saw 82 new listings, 19 conditional sales, 31 firm sales along with an additional 28 sales firm up from conditionally sold to sold.

Now, with all of the scrutiny on many businesses to help “flatten the curve” Real Estate is no different. We must as an industry continue to service and do a good job for our clients, whether they are a buyer or a seller. However, we also have an obligation to our communities to take every precaution reasonable to ensure our, our clients and public safety in these unprecedented times.

Royal Lepage Royal City Realty announced several changes early last week. These changes are to allow us to still service existing and new clients while maintaining the utmost sensitivity to the current situation.

  • Not hosting public or agent open houses.
  • Not allowing “shared” showings with multiple Realtors and clients of currently listed properties at the same time.
  • Closing our offices to the public.
  • Requesting that all showings include sanitization procedures, before, during and after.
  • Using electronic signatures whenever possible.
  • Encouraging virtual tours, virtual open houses, and virtual showings when possible.

While this list isn’t complete, and it changes daily if not hourly at times, working for a Real Estate Brokerage that puts our clients, staff and public safety at the forefront is something that makes me proud.

If you would like to discuss how the current situation affects your home value, or how it affects the buying process, I would be happy to set up a phone call, coffee or home evaluation. If you just wanna chat real estate over a virtual coffee… I can arrange that as well. E-mail Me Here

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