It’s middle of the month – 2 weeks into the last quarter of the year and I am seeing a bit of an uptick in the market. This is somewhat unusual for October but I am sure every seller everywhere is onside and if you are buying and have found the ‘right one’… get an offer in.
This has a similar feel to markets in the past when it changed from ‘everything is for sale’ to ‘ I can’t find the right home…’. We never know if this is just a blip and the slow downward trend will continue or if this is the start of the ‘turn-around’. The sales volume (the actual total dollars) is similar to last year but the number of homes sold is down. This points to the higher priced homes selling whereas the average and lower priced homes are in a bit of a rut.
A selling client said to me the other day – It’s like we are fishing and getting lots of nibbles, but no strikes! We just sold a property on the weekend and the other agent passed onto me: This is the perfect property for them, they love it and have been looking for some time. The interesting part is they viewed it 2 months before writing an offer. A day after this was accepted, I received two calls (one client and one Realtor) and both wanted to write.
If anyone tells you they know what the market will do in the next weeks/months/years…. well, I don’t think anyone really knows. What I can predict is that it will change – just not when.
There are some good programs and rebates out there for First Time Buyers and also for anyone purchasing new construction. Drop me a line if you want more detail on any of these.
And finally… What about those BC Assessments? Yes, they are all over the place. Depending on when a property last sold, the values could be well over or well below the actual market value. If you are interested in seeing what your home and property is worth, we do provide a no-obligation assessment of the value in today’s marketplace.
We are ramping up the monthly newsletter so if there is anything you would like to see on a monthly basis, let us know and we will work to incorporate that.
