Guelph Real Estate News from MICHELLE IVY May 2018   

When you put your home on the market, it's important to take care of certain details to ensure buyers don't head out the door in disgust. This month's article offers six buyer turnoffs that you need to be aware of.

There are also some great ideas on how to save money at the pump as well as a few tips on how to seasonally transform your home with a fresh spring theme.

Thanks so much for checking out this month's newsletter. Please get in touch if you have any questions or comments regarding the articles, or real estate in general -- it'd be great to hear from you!


In this issue...
Guelph Real Estate Market Update 
Guelph home sales slowly recovering but still subdued.

According to statistics provided by the MLS® System of the Guelph and District Association of REALTORS®, home sales numbered 306 units in April 2018.

This was a decrease of 12.6% from April 2017 – the smallest year-over-year decline so far in 2018 by a significant margin. It was also still 5.6% below the 10-year average for the month.

On a year-to-date basis, home sales totalled 913 units over the first four months of the year. This was down 25.1% from the 2017 record.

“Sales were already beginning to come down by this time last year, whereas right now they are slowly starting to improve, and that combination resulted in a much more moderate year-over-year decline in April,” said Kristi Mercier, President of the Guelph and District Association of REALTORS®.

“Despite a below-average number of deals being made at the moment, the market still very tight. That is why we are seeing the MLS® HPI trending upward once again, quite sharply in fact.”

The MLS® Home Price Index (HPI), tracks price trends far more accurately than is possible using average or median price measures. The overall MLS® HPI benchmark price for Guelph and District in April 2018 was $436,000, up 5.9% compared to the same month in 2017.

Benchmark prices have recovered sharply following a dip in the second half of last year. The overall MLS® HPI benchmark price for Guelph and District as of April 2018 has recovered some 7.2% from the low reached in October 2017.

The benchmark price for a typical single-family home was $469,500 in April, up 3.6% on a year-over-year basis. By comparison, the benchmark townhouse price in April 2018 was $378,400, up 7.6% from April 2017, while the benchmark apartment unit price was $309,900, jumping 20.9% compared to a year earlier.

The average price of homes sold in April 2018 was $537,787, down 9.5% from April 2017. The more comprehensive year-to-date average price was $524,886, edging down 3.6% from the first four months of 2017. The dollar value of all residential home sales in April 2018 was $164.6 million, falling 20.9% from the record for the month in 2017.

There were 422 new residential listings in April 2018, unchanged on a year-over-year basis. Active residential listings numbered 465 units at the end of April. This was an increase of 52% from the record lows seen at the end of April 2017, but remains below the same period in every other year on record.

Months of inventory numbered just 1.5 at the end of April 2018, up from the 0.9 months recorded at the end of April 2017 but below the long-run average of 2.1 months for this time of year. The number of months of inventory is the number of months it would take to sell current inventories at the current rate of sales activity.

Sales of all property types in the Guelph region numbered 322 units in April 2018. This was a decrease of 13.7% from April 2017. The total value of all properties sold was $180.1 million, falling 19% from April 2017.

Beware of Buyer Turn-offs 
Address these common turn-offs so buyers don’t run for the door!

When you put your home on the market, it must appeal to a large cross-section of buyers in order to generate a frenzy of activity.

Buying a home is such an emotional decision that even a seemingly small issue can create a bad impression. Here are six of the top turn-offs you need to know:

  1. Get Out - Make yourself scarce during showings as nothing turns buyers off more than a stalking seller.

  2. Fido & Fluffy - Pets and their associated smells will put many buyers off so relocate them before showings and hide their bed, bones, toys, etc.

  3. Killer Clutter - Buyers want to imagine themselves living in your home but most can’t look past other people's clutter, even if it’s tucked away in closets and cupboards.

  4. Problems Down Below - If your basement’s unfinished, you’ll want to show that it has potential so investigate any signs of moisture and paint the floor white to make it feel more spacious.

  5. Grubby Grout - It's imperative that your entire home remains thoroughly cleaned right down to the inside of your microwave. Neglected personal spaces like bathrooms will have them running for the door!

  6. Forgo the Fish Fry - It's best not to cook fish, bacon or other strong smelling foods while your home's on the market. Always air out your home by opening the windows instead of using artificial scents as some people are allergic.

When you sell your home, your goal is to get the highest price in the shortest amount of time. Sometimes the best way to do that is by focusing on the small stuff. It's definitely worth the effort and the good news is that depersonalizing, decluttering and thoroughly cleaning your home doesn't cost a fortune.

Tips On How to Guzzle Less Gas 
Modifying your driving habits can save you loads at the pump!

Maximizing your vehicle's fuel efficiency will not only save you money but you'll also be doing your bit for the environment! Here are a few tips that'll pay off at the pump:

  1. Turn it Off - Don't idle as it unnecessarily wastes fuel.

  2. Take it In - Regular tune-ups will increase your car's efficiency.

  3. Check & Inflate - Keep your tires inflated to the proper pressure.

  4. Slow Down - Speeding increases fuel consumption by as much as 50%!

  5. Don't Brake Down - Don't constantly jam on your brakes and then rapidly accelerate.

  6. There's an App for That! - Download an app that tracks the cheapest local gas prices.

  7. Lighten Up - Remove unnecessary items from your vehicle as extra weight reduces fuel efficiency.

The best way to save on gas is to keep your car in the driveway, so next time you climb behind the wheel, ask yourself if you can walk there instead. Just a few small changes to your driving habits such as combining errands or carpooling to work will save you a small fortune over time.

Spring Your Home Decor into Action 
Transform and refresh your home now that spring is here!

Spring is a time of renewal so why not bring the season's vitality into your home by making some simple decorating changes. Here are a few ideas that'll help you create a fresh spring feel:

  • Swap out heavy curtains for blinds or sheers.

  • Bring nature inside with a few plants or some fresh cut flowers.

  • Switch your cushion covers to spring shades such as yellows and purples.

Celebrate spring's arrival by bringing a breath of fresh air into your home. Just a few simple changes and a good spring clean can reflect the season’s sunny, fresh energy!

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Not meant to solicit clients already under contract.