Winter 2024 Bulletin
Hello Friends!
Thank you in advance for taking the time to read the Winter 2024 Townsend Real Estate bulletin. I hope you and your family were able to enjoy some time together over the holidays and have settled into the routines of 2024.
For my family, 2023 was certainly a roller coaster of a year both professionally and personally. We enjoyed many fantastic experiences, made lifelong memories but also endured some very difficult times as well. Fall 2023, despite a slower than normal market around the region, was extremely successful for Townsend Real Estate. I am truly grateful for the support of my family, friends and clients. Your support has allowed me continue learning, growing and building my business. Carrying the momentum into some new experiences and goals for 2024 is top priority! One of the key professional highlights was being voted as the Guelph Readers’ Choice Diamond Award Winner for Real Estate Agents in Guelph. Voting took place over a number of weeks this past fall and I was extremely fortunate to have the support of so many people that helped me receive the top honour! Being voted as the winner of this award supports my dedication, motivation and ability to build strong and lasting relationships with my clients.
Personally, Charlotte is continuing to grow at a rapid pace and is always learning new words, actions and experiences. She is very observant and quick to learn what she sees! Charlotte started daycare in October and is loving her time spent with friends. Jill is settling into her new position with the City of Cambridge as a Roads Supervisor. After 19 years in various roles with the City of Oshawa, this was a huge change for her! Having Jill working so close to home was life changing for our family. While working through a very difficult grieving process with the loss of our precious Mya in September, we decided that it was time to share our love. Shortly after Christmas, I was enticed by a social media ad on my phone from a breeder in Halton Hills. A few short days later, after a “meet and greet” with this beautiful Australian Labradoodle puppy, we headed home with Molly. She is now 12 weeks old and is an amazing dog. We couldn’t be happier to share our lives with such a cute and fun-loving dog. As soon as I saw her, I felt like she spoke to me and it didn’t hurt that Molly’s mother looked EXACTLY like Mya! Having a toddler and a puppy at 40+ years old makes our household “busy” to say the least.
Local Market Update:
As previously mentioned, the fall and early winter market was extremely slow, difficult for sellers, investors and Realtors! We saw many homes sitting on market for extended periods of time. Inventory levels hit highs that haven’t been seen in 5+ years. If we look back to this time 2 years ago, the average days on the market for homes in our region were less than 10 days. In December 2023, the average days on the market was 38. With the increase in inventory on the market, we saw sales numbers level off in what we call a “balanced market”. A balanced market is when the total number of homes being sold is equal to or close to number of new listings coming to market. This generally means homes that are priced fairly, show well and are in a desirable location will sell in a timely manner at or around the asking price. It’s generally a win-win for buyers and sellers! All of that being said, I had a couple of active listings that got hot right after Christmas. It was almost like someone flicked a switch on the 28th of December and people were scrolling Realtor.ca while being full of holiday food and drinks! Showings, Realtor inquiries and talk about 2024 interest rates coming down in the near future brought enthusiasm and interest in the local market.
Things have rebounded nicely since the start of January and we are expecting an active Spring market starting earlier than normal this year. Most expert predictions that I follow are expecting an interest rate cut in April or June at the latest and then a couple of more later in the year. I have even heard that some top officials are predicting we will see interest rates back down in the range of 3% - 3.5% by Spring of 2025. If you are thinking of buying, this might seem exciting but the truth is that we just do not have enough supply of housing and as soon as the rates drop or even continue to hold steady, that is going to increase demand and that will increase the prices. Looking to buy? Now is the time to do it! Short term fixed rates have come down to less than 5% in some cases so a short-term fixed rate to purchase now at a lower price will be better in the long run than waiting for a lower variable rate and higher price with more competition. One line I have heard that aligns with this outlook is, “Date the rate, marry the location and the house”. Rates will come and go but the perfect location and house will not! Looking to sell? Get your house ready; reach out so we can develop a plan for success and be ready for the flood of buyers waiting to jump in the game. Keep your eye on your Inbox in February as I have some exciting news to share about an awesome client referral program for anyone who refers a client to me and a new initiative to help retirees tackle some of the more challenging real estate and life decisions, for which they have to plan. Lots of exciting moments ahead in 2024!
Supporting Local, Cusina Mediterranean Bistro & Townsend Real Estate
Supporting our community and local small businesses is extremely important to me. Equally important is saying thank you to my family, friends and clients for their support! I have partnered with Cusina Mediterranean Bistro to provide each member of my birthday program with a $25 gift card for lunch or dinner at Cusina! The gift cards will be mailed out in the month of your birthday and can be used anytime in 2024 for dine-in or take-out. Cusina Mediterranean Bistro is located at 5-160 Kortright Road West, Guelph in the Hartsland Plaza. I invite you to explore their fantastic menu by clicking here and hope you get a chance to enjoy their delicious food and drinks! Unsure if you are a part of my birthday program? Please click the register here button below to submit the birth month and birth date of you and your spouse via email. (If you have previously received a birthday card that means you are registered)
5 Tips For Selling Your Home In The Winter:
Keep the exterior clean free from ice, ensuring the backyard is accessible 2. Crank up the heat and light the fireplace 3. Show your home during daylight hours when possible 4. Price it accordingly, winter buyers are generally highly motivated 5. Prepare strong marketing materials that showcase your home and property in all 4 seasons of the year.
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
