Summer 2023 Bulletin

Hello Friends!

Thank you in advance for taking the time to read the Summer Townsend Real Estate Bulletin. The hot and hazy days of Summer have now arrived and I hope you and your family have been able to enjoy time together, visiting a cottage or relaxing by a pool to beat the heat! Jill, Charlotte, Mya and I have been able to spend some time in McKellar relaxing by the lake and are looking forward to a short trip to Prince Edward Island next week to visit Jill’s family cottage.

The Spring market was quite busy and very rewarding both professionally and personally.  I was fortunate to help a few clients with home purchases that I had previously helped lease homes and was able to forge some great relationships with new clients.  In addition to these transactions, I have kept busy by continuing to build my business. Focusing on developing my real estate knowledge and skills through various forms of training and actively helping my colleagues with open houses, showings or any other support they require.  Nothing beats learning by hands on experience!

For the second year, I was the Chairperson of our annual TW Classic Charity Golf Tournament.  We started organizing this event last November and it culminated on June 5, 2023 at Grey Silo Golf Course in Waterloo.  A total of 140 golfers and additional dinner guests help us raise over $21,000 for HopeSpring Cancer Support Centre, a great local program that helps those fighting such a terrible disease.  Shortly after, I was also a part of the organizing committee for the Guelph & District Realtors Association Golf Tournament at Ariss Valley Golf Course on June 20, 2023.  A great day of golf, food, drinks and networking was had by 192 fellow local Realtors.   

Have you seen my new bio-video? Lots of fun was had during the filming! Check it out by clicking the picture below. It can also be found on www.townsenrealestate.ca or my profile page on www.trilliumwest.com.

Local Market Update:

With Summer, typically comes a bit of a lull in the market as families enjoy holidays and people focus on sunshine and good times.  After a very up and down past 12-15 months our local real estate market has rebounded nicely and pricing is on par with 12 months ago.  We have seen a nice steady increase in the month over month values since hitting bottom last fall.  A few areas to keep an eye on if you are either buying or selling are Guelph Condos (9% increase from May-June) and Kitchener Detached Homes (10% increase from May-June).  In addition to these categories the Guelph resale market between $750,000-$1,000,000 and Cambridge luxury homes (over $1,500,000) are showing lots of demand. 

The big question everyone asks right now is: How are the interest rate hikes affecting the market?  This is a difficult question because it generally takes up to 6 months for us to feel the influence of rate hikes.  Certainly, for first time home buyers or investors the rate hikes have made things more difficult.  Some investors who bought into the market when rates were at an all time low are not able to cover their mortgage costs and are either raising rents or selling the properties all together.  This has led to an increased demand for rental homes in an already tight market.  Guelph was just recently named in a CTV news article as the 3rd highest rent in Canada, only sitting behind Vancouver and Toronto! 

The fact of the matter on Canadian housing is that the market is driven like most others by supply and demand.  We currently do not have anywhere near enough houses for everyone who needs/wants one.  Builders are building at max capacity for the most part and are being hampered by political restrictions, worker shortages, supply shortages and material costs.  Until these factors can be improved, we will continue to experience strong demand for housing of all kinds. 

My best advice right now is to seek out a professional to answer any of your questions or inquiries.  Whether it be a Mortgage Professional, Financial Advisor or Realtor, these people have the knowledge and experience to help you and your family make the best decisions.     

If you have any questions about buying selling, leasing or the current market conditions please reach out at any time.  I am here to help!

Townsend Real Estate 2023 Community Initiative:

In an effort to support our local community, I will be donating $150 to a local charity of each client’s choice for every home listing or home purchase through Townsend Real Estate in 2023.  Small donations can hopefully make big impacts as they grow!

Final Thoughts:

I recently saw a quote on social media that read:

“What a good day to be proud of all the progress you’ve made.”

Everyday is a good day to be proud of yourself and what you have/will accomplish, but sometimes we forget that!  I want to thank all of my family, friends, clients and colleagues who have supported me and helped me live this dream of becoming a Realtor.  Helping others is what I love to do and makes me very proud of the progress I have made.

Contact:

A referral to family, friends, colleagues thinking of making a real estate transaction now or in the future is the greatest compliment I can receive and would truly appreciate your support.  Looking forward to hearing from you!

Rob