I hope you have had a great week and that you are all looking forward to a fun weekend. I am excited about getting out of the city and taking advantage of our beautiful wilderness. Ferry rides and hiking will be the order of the day.
So what has been happening in the real estate markets? Today I am going to focus on my current market on the West Side that includes statistics for listings and sales going back to 2010. Here we go:
Interesting to see how some markets are fairing pretty well and how others have definitely seen a significant down turn in sales. two great observations can be made and acted upon to take full advantage in a positive way:
- If you are selling your place, do your research, monitor the market and get your price sharp and competitive. There is a huge amount of inventory on the market right now, so much competition and a lot of it is overpriced. Buyers are very aware of this and with so much to choose from, are being may more cautious and particular about how and where they will spend their money.
- If you are a buyer, this may be your time to get into this market at a more favourable price as there is so much property on the market that you may be able to negotiate more favourably on the price. Most of the west side has been very much a buyers market since the beginning of January. Use this and any other information you have to utilise your buying power.
So there you have it. We are fast approaching the spring market and with so much competition, those sellers who are willing to work with the market will be the winners.
Good luck everybody and have a great weekend!
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