Guelph’s housing market today: Hot neighbourhoods and best value areas
Year-to-date facts about Guelph real estate and what to look for if you’re entering the market
(Originally published on Guelph Today Sept 17, 2019)
Summer is almost over, kids are back in school, and much to some people’s dismay, the seasonal scent of pumpkin spice is in the air. We’re two-thirds of our way through the year and while kids’ schedules and the habits of pumpkin spice lovers are predictable again, there have been some noteworthy shifts in the Guelph real estate market when it comes to top- performing neighbourhoods, best value areas and housing availability.
Often, real estate professionals will present market data from a city-wide perspective. But, your Guelph real estate agent can dig deeper to provide specific information on real estate trends, strategies and targeted neighbourhood insights.
Demographics, which could include age, income, occupation, family size and other factors related to your current status also play a key role in the process of homes changing hands in neighbourhoods and the prices associated to them.
Here are some interesting year-to-date facts about the Guelph market for 2019:
The top 3 neighbourhoods of 2019 for 2-year average price growth
The average home price in Guelph has appreciated by 5.5% year to date August 2019 versus 2017. The average price is not a foolproof measure but is a metric to give you an idea of the ups and downs of the market over two years. Influences to the average price could include increases or decreases in popularity, amenities, transit and development.
St Patrick’s Ward (“The Ward”): + 31%
Guelphites have known that for many years, “The Ward” was up-and-coming although it didn’t seem to ever actually be changing. With developments such as Metal Works and Biltmore, as well as its old-world charm, The Ward is an area that has appeal to everyone from young families, to students, investors and downsizers.
St Georges Park: +25%
A very large geographic area, St Georges Park is an ever-popular neighbourhood made up of century homes closer to downtown and post-war homes further out. Both of these segments are growing in popularity, in particular, the post-war bungalows due to their versatility and lower price points. These bungalows should continue to outpace in the coming years.
Onward Willow: +17.2%
One of the most interesting areas of Guelph today is the Onward Willow Neighbourhood. Made up of homes from the early 1900s all the way to the 1970s, Onward Willow is benefiting from the growth of the sub-area of the Junction as well as the continued popularity in the post-war bungalow.
Best value for your money in Guelph in 2019:
In a growing market, buying a home can be more difficult for those on tighter budgets, limited income or potential first-time buyers. The City average for all types of housing is $383 per square foot in 2019, but here are a few areas that still offer value:
$357/ square foot- Willow West/ Sugarbush/ West Acres$364/ square foot- Victoria North$365/ square foot- Onward Willow
Trying to buy in Guelph? Some areas provide more opportunity than others, so here are Guelph’s hardest and easiest neighbourhoods to find a house for sale in 2019:
Hardest neighbourhood: General Hospital (34 houses sold in 2019)Easiest neighbourhood: Grange Road (274 houses sold in 2019)
The above numbers perfectly illustrate changing demographics in a market- you will find a more established demographic in the area of the General Hospital who are less likely to move. In the Grange Road area, there are many young families, investors and first-time homebuyers in semi-detached or condominiums who will likely upsize their homes as their circumstances change.
Looking for information on a specific neighbourhood or data point? Contact Beth and Ryan Waller, Sale Representatives with Home Group Realty at firstname.lastname@example.org or visit www.bethandryan.ca. Photo credit: Element5 Digital on Unsplash