First of all Happy New Year! It seems like that spring real estate market is starting earlier each year, and yet when I have been showing homes to buyers this past week, I have not yet seen any signs of plants starting to grow. But the signs of an active real estate market, are all around us, so why is it happening sooner this year than others and how can you respond?
With record sales last year, and home values up, people are hearing and thinking about their largest investment. Many in the condo market and townhouse markets are seeing their values come back form the lows of 2008, all of this activity and increased values, gives people confidence to make a move forward.
Another factor is the low inventory in the detached housing market. This past week many new homes have come on the market, which is great, but we still have very low inventory. This means homes that are priced at the market value are often sold in less than a week, leaving buyers scrambling as many people are looking for that dream house before the rising home values price them out of some markets.
The third large variable is the issues concerning the “World Financial Markets”, Global Issues and the lowering Canadian dollar. It does make for some head scratching.
So how should one respond? My thoughts, get the facts, find out more, become informed and make wise steps forward. If you would like to discover more about your house value or how to move forward in this specific market, feel free to give me a call, I love helping people, and walking with them through their Real Estate Journey is my passion.