Open Houses, Showings & Public Health | Issue 196 Guelph Weekly Sales Report
OPEN HOUSES, SHOWINGS & PUBLIC HEALTH
This past week, and the last few months even, will certainly be remembered as historic. Yes, we are talking about what is perceivably the biggest pandemic in several generations. At first I thought this was something that, while alarming, would be manageable and be over in a matter of weeks. As the week has unfolded, we are realizing that hundreds of thousands of people have been affected by the COVID-19, and that this is indeed a very serious public health issue.
We deal with people’s homes on a daily basis, and we understand that home is a sanctuary. We have taken steps within our brokerage to sanitize and maintain a clean and safe environment according to public health guidelines. We’ve also been focused on doing everything we can to protect our clients and their homes.
We have been listening to the appropriate sources for guidance and up to date information, and we are monitoring this evolving situation and assessing the risks. Our commitment to our team, our clients and customers is to ensure a high level of safety.
HERE'S HOW WE ARE REACTING:
- We have enhanced our cleaning and sanitizing procedures within our brokerage. We have asked staff and sales teams to be aware of their health and wellbeing and to stay home if they or someone in their home is not well.
- We have asked our team members to eliminate public open houses and instead to host virtual open houses. If homeowners are comfortable with continuing to offer viewings and open houses, we will have hand sanitizer and wipes available at the home.
- As this situation evolves we will react and may restrict or eliminate public showings and viewing until health officials have indicated conditions are safer.
- Most of our offer negotiations and transaction details are completed using digital means, which means we will continue to be able to serve our clients and partners.
Further adjustments can and will be made over time to allow us to continue to do our part during this public health situation.
The following weeks and possibly months will be much different than what we are used to. We anticipate the local real estate market may likely slow down considerably as people prioritize staying healthy and well. In our opinion, the underlying economic conditions in the Guelph real estate market are sound and we fully expect any negative effects on our market to be relatively short term.
Every media outlet and platform seems to be overwhelmed with information on the COVID-19 situation. Here are some of the trusted sources that we are following:
THIS WEEK IN THE GUELPH REAL ESTATE MARKET:
The Guelph real estate market hasn’t reacted to the COVID-19 issue, yet. This past week’s sales were up 68% to 69 homes sold over the same week last year. 59% of the homes sold this past week sold at or above list price.
The median home sold in Guelph was a 3 bedroom, 2 bath, 1,350 square foot home. That home sold for $581,000 and took 9 days to become sold. The home owners received 101.86% of their original list price. Incredible numbers that continue to show how strong demand is and reflects on the low inventory.
My sense is this will change rapidly over the next few weeks. We’ve already witnessed declining numbers of people viewing homes and attending open houses. Given most of our offers are dealt with via email it’s no surprise that the real estate market is lagging behind what other service industries are already experiencing.
We’re keeping a close eye on the evolving situation and will be keep our clients and partners updated.
Keep your distance, wash your hands, and it’s ok to be concerned.
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