February 2019

By February 19, 2019

It doesn’t feel right to say we’re on the cusp of the spring market, but we are.

Winter was brutal. The snow was great for skiing, but less than ideal for driving. It certainly didn’t encourage buyers to visit open houses or showings. As for the few who braved the cold, there wasn’t much to see. Inventory was low.

The spring market typically starts right after Easter. Since Easter is rather late, April 20th, I expect we’ll see activity begin sooner, perhaps even this week with the end of March break. There are a few things you should know:

  • Most sellers wait until Spring to list their homes. This means inventory is expected to rise.
  • April, May or June are the months that boast the highest average selling prices. Although, that happened in October last year.
  • Over the last ten springs, we’ve seen the number of buyers outpace the volume of listings. Spring is usually a seller’s market.

In summary, as a seller, you’re most likely to get the highest price for your property. As a buyer, you may end up paying slightly more, but you’ll enjoy an unrivalled inventory.

Given how few new listings we’ve seen this quarter, I expect a fairly busy spring, and maybe one that starts a earlier than expected. If you’re buying, be prepared to move quickly. There will be other buyers looking for the same home as you.

If you’re selling, make sure your home looks its best and is properly priced. There will be more buyers, but not so many that caution will be thrown to the wind.

Be prepared. Be realistic. And make sure you have the right Realtor to guide you through these tricky times.