Spring 2024 Bulletin
Hello Friends!
Thank you in advance for taking the time to read the Spring 2024 Townsend Real Estate bulletin. What a wild ride of weather we have been on this year! I hope you and your family had a safe and healthy winter while looking forward to the beauty of Spring.
For our family, 2024 has begun with adventure, new experiences and no shortage of keeping busy! As both Charlotte and Molly grow at a rapid pace we never know what excitement the next hour, day or week is going to bring! This winter, Charlotte has enjoyed trying out gymnastic classes, ice-skating, sledding and her first All-Inclusive vacation! We all really enjoyed the sunshine, beach and fun that comes with All-Inclusive vacations but making family memories with Charlotte was definitely the highlight of the winter! She absolutely loves all things vacation! Molly completed 6 weeks of puppy class and we are working on the training process with her on a daily basis. February 29, 2024 marked our “First” wedding anniversary. The celebration began with a family trip to Punta Cana, Dominican Republic, then a lunch date to the site of our wedding at Adamo Estate Winery and wrapped up with a night away in early March at the Elora Mill. A leap year wedding anniversary only comes around every 4 years so you have to do some extra celebrating!
Professionally, the year started off very busy and the momentum has continued into the start of the Spring real estate market. I have been busy listing houses, leasing properties, working with buyers and currently finalizing a commercial lease. The start of the year also provided lots of opportunity to network with other agents, attend Brokerage training events and prepare myself for some exciting new opportunities. This winter brought a chance to fulfill a goal of mine and attain my Senior Real Estate Specialist designation. Achieving this designation provided me with many great new skills to help the 55+ community navigate the world of real estate. My colleague/partner, Tanya Tagwerker and I have been working hard to develop a 5-part information session to help provide expert knowledge and advice from industry professionals for the 55+ community to prepare for their future. Some of the topics we cover are: Aging in Place, Downsizing/Right-Sizing, Multi-generational Living, Estate Planning/Estate Sales & Transitioning to Retirement Living. Our next event is Tuesday April 30th at 6:30pm and we will discuss Downsizing/Right-Sizing. Please reach out if you would like to know more about this program. In addition to the information sessions, we are writing articles on each topic and they are being published in the Puslinch Pioneer Newspaper both in print and online. You can also read the most recent articles by visiting: https://www.trilliumwest.com/blog.
Lots of great memories have been made, goals fulfilled and staying focused on continuing to learn and grow in both my personal and professional life is top priority!
Local Market Update:
Spring has sprung and so has the local real estate market! Since the calendar turned to 2024 we have seen a steady monthly climb across all housing types in Guelph and surrounding area. 2023 wrapped up with a median price for a detached home in Guelph of $775,000. The March numbers were just released at that same median price for a detached home is now $892,000! Certainly, our inventory levels have increased and more sales in the $1,000,000 plus market have helped raise those numbers but overall, we have seen a very strong increase in values. The exception to this is the Guelph townhouse market that has actually lowered in value by almost $50,000. I personally attribute this decrease in the number of lower valued sales in some of the older townhouse complexes and investors selling off student rental/investment properties with the higher interest rates. With that being said, the gap between townhouse value and detached home value being larger than normal this presents opportunity for first time home buyers, investors and downsizers to pick a good deal on a townhouse property before we see the value gap narrow in the next couple of months. Kitchener/Waterloo and Cambridge are also seeing prices bounce back to Summer 2022 levels with the best value in the region remaining in the Kitchener condo market.
Speaking of interest rates! The next Bank of Canada announcement is coming on Wednesday April 10th. The industry experts are expecting another hold on rates and are looking at the June announcement for the first rate cut. Did you know? If the BOC removes rental prices and mortgages rates from their inflation calculations the current inflation rate would sit exactly at the 2% target that was desired for the first rate cut. The local market has been very busy since mid February with many buyers hoping to purchase now with less competition and the ability to use conditions to protect themselves. Unfortunately, most people have the same idea and we are seeing a lot of homes with multiple offers, double digit offer counts on homes under $800,000 and most homes selling over asking price. Spring is definitely the most popular time to buy and sell real estate so we are expecting to see a significant amount of inventory come to market in the next 4-6 weeks as people take advantage of the nice weather to present their home in the best possible condition to buyers. If you are thinking of buying or selling in the near future it is definitely worth a conversation with a Realtor to discuss some strategies, options and the market outlook for the rest of 2024. Happy Spring to you and your family!
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)
Spring Maintenance Tips:
Inspect/clean gutters & downspouts 2. Service lawn equipment 3. Spring garden & yard cleanup 4. Test AC unit and change furnace filters 5. Exterior window cleaning 6. Power wash decks/patios and walk ways 7. Check/replace weatherstripping on doors 8. Check/replace batteries in smoke/CO2 alarms 9. Inspect windows for leaks/gaps
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
