With the whole economic world in turmoil is Guelph any indication of what we can expect?
I had the pleasure to read about the Guelph MLS statistics on another local real estate blog and was not surprised to see what I have been expecting for some time. The average sale price is dropping. Dramatically! Average price in KW increased ever so slightly last month (year over year) and Cambridge dropped but was basically negligible (see info).
Is this the start of the housing market decline? Is it the decline of higher priced homes as people look for more affordable housing? Was it just a bad month in Guelph? Time will smack us with an answer.
Dave Weber gives us his opinion on the Guelph market which I think shows that Guelph is a leader in the market. People have often said to me they do not understand why Guelph homes are so much higher than that of neighbouring communities. Opinions usually follow the questions.
"Guelph is a university town." So is Waterloo.....OK some would say Waterloo beats to it's own drum.
"Guelph is not connected like KW and Cambridge." KW and Cambridge have an invisible wall called the 401. Anyone who knows the area knows that people from KW don't come to Cambridge, unless under duress. People in Cambridge have a hard enough time interacting with each other. When was the last time you saw one average size city have two separate Santa Clause parades?
"Guelph is just different." Knowing some people from Guelph and some people that spent 4 of the best years of their life there, I would agree. Having spent a bit of time in the downtown during the summer it has a very different feel from Cambridge or Kitchener.
So Guelph is different from a cultural feel and an overall vibe, just go to Hillside and you will know what I mean. Does that spill over into housing and economics? Not necessarily.
I expect that over the coming months we will see the average price drop in both KW and Cambridge, following the lead that we are seeing in Guelph. How far will it go? We will just have to wait for that smack of time as well.
So to answer the initial question "Is Guelph Normal?"
Is this the start of the housing market decline? Is it the decline of higher priced homes as people look for more affordable housing? Was it just a bad month in Guelph? Time will smack us with an answer.
Dave Weber gives us his opinion on the Guelph market which I think shows that Guelph is a leader in the market. People have often said to me they do not understand why Guelph homes are so much higher than that of neighbouring communities. Opinions usually follow the questions.
"Guelph is a university town." So is Waterloo.....OK some would say Waterloo beats to it's own drum.
"Guelph is not connected like KW and Cambridge." KW and Cambridge have an invisible wall called the 401. Anyone who knows the area knows that people from KW don't come to Cambridge, unless under duress. People in Cambridge have a hard enough time interacting with each other. When was the last time you saw one average size city have two separate Santa Clause parades?
"Guelph is just different." Knowing some people from Guelph and some people that spent 4 of the best years of their life there, I would agree. Having spent a bit of time in the downtown during the summer it has a very different feel from Cambridge or Kitchener.
So Guelph is different from a cultural feel and an overall vibe, just go to Hillside and you will know what I mean. Does that spill over into housing and economics? Not necessarily.
I expect that over the coming months we will see the average price drop in both KW and Cambridge, following the lead that we are seeing in Guelph. How far will it go? We will just have to wait for that smack of time as well.
So to answer the initial question "Is Guelph Normal?"
No.
I don't think they would have it any other way.
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