If you're thinking of selling this year, sooner may be better than later. The 2018 real estate market is underway. Yes, this early into the New Year! Selling your home in early to mid February can attract those eager, serious buyers who are keen to buy – even though inventory is low – because they’re eager to get into a home, and/or want a jumpstart on other buyers entering the spring market. Of course, we'd want to negotiate a longer completion to allow you time to find your next place!
The flip side of listing and selling your home in early-mid February or so is that you’ll be buying your next home at a prime time to buy. As we move into spring we'll see more and more homes coming to market each day, providing you with more buying choices. With a sale already booked on your current home, you can act decisively when the perfect next home appears. With your exact sale proceeds known, and financing sorted based on your net proceeds, you'll be in a strong position to make a compelling offer.
2017 was a time of change and some uncertainty in our market. These changing conditions will likely continue into 2018 as the regulators and various levels of government continue to ramp up their influence on the real estate market. No one can know exactly where the market will be as the year progresses. Given the drive to "fix" the market (i.e., stall or perhaps even reverse the upward price march), the odds of overall values weakening vs strengthening may increase in the coming months. As always, we need to keep in mind that the "market" is made up of many sub-markets. These could be as small as the block you live on, or your style of home and condition on that block! Homes in some sub-markets will no doubt continue to increase in value; others may not.
Thinking of selling or buying in 2018? Contact me any time to discuss the right strategies for your situation. With 16+ years experience and close to 600 homes sold in all market conditions, I can help you successfully navigate our changing real estate landscape.