Greater Toronto area buyers retreat from Guelph.
For years, buyers from GTA flocked to Guelph. Suddenly that has slowed, resulting in a lot less competition.
Fewer buyers means a change in selling strategy. Holding offers is being replaced with an irrevocable. Read more about what an irrevocable in real estate is here.
Not as many homes selling over asking. In early 2022, over 90% of homes were selling over asking. This has been declining to a current 70%. With increasing MLS listings to a more balanced real estate market with 170 listings in Guelph.
Beth and Ryan Waller are Guelph Realtors who are happy to answer any questions you may have on the local real estate market.
