I first saw this image at a RE/MAX conference I attended back in November & it really caught my eye!
In fact, it was this picture that inspired me to resurrect my blog that I never really got off the ground 2yrs ago! My philosophy in Real Estate has always been to educate...and if this is the time that people are searching for information then I figured it's the perfect time to share what I think is useful information based on the experiences I've had with my clients over the years.
What I've found as I've been doing my research is...all the studies are US-based. I haven't been able to find any Canadian equivalent to the studies that were conducted in the US. It's not that I don't believe that Canadians are also doing a lot of real estate searches in December & January, it's just that I can't link to Canadian content to prove it!
I believe that the above statistic comes from the joint study done by Google & The National Association of REALTORS® (NAR®) called "The Digital House-Hunt Study" & there's another study that was done by Redfin (US on-line brokerage) who did a 2-year analysis that indicated that listing in the winter, between December & March, is the most advantageous time for Sellers. The Redfin study IS making the rounds here in Canada but nevertheless it's still based on US data.
When it comes to local data what I CAN speak to in a relevant way is the current real estate climate here in the Durham region. According to The Durham Region Association of REALTORS® (DRAR®), we've just come off the best December in the last 3yrs in terms of sales within our MLS® system.
December 2014 - 478 sales
December 2013 - 400 sales
December 2012 - 410 sales
December 2011 - 517 sales
2014 was a record year in Durham, not only in the number of homes sold, but also for the average selling price, up 9.6% across the region. To see the full housing report for 2014 & how YOUR particular area performed, click HERE
DRAR® President Sandra O'Donohue has this to say about what we can look forward to in 2015...
"Durham Region continues to expand, our 407 extension is well underway, new development in both residential and commercial continues to grow and all indicators are positive for our marketplace in the coming year."
Not exactly the most exciting statement ever, lol, but good to know that the outlook for the coming year is strong & stable here in our region!
So back to the subject at hand...if the next 3months are supposed to be prime-time in real estate, just like the US studies suggest, then how do you capitalize on that? Well, it depends on WHO you are!
If you're a Seller:
Anytime you can get a leg up on your competition it gives you an advantage...be the first out of the gate in your neighbourhood & the odds are good that the Buyers will flock to you...if you list it they will come, lol. Supply & demand puts YOU in the driver's seat & that's never a bad thing!
Know that without a doubt, the right strategy WILL put more money in your pocket! How do you know what the right strategy is for your home? Interview local REALTORS® for the job! Everyone should be coming to the table with a plan to maximize your largest asset & have the "juice" to back it up! If you haven't already, read my blog post called "The Importance of Pricing Your Home Right...The First Time!" for more on this key piece of the puzzle.
If you're a Buyer:
Basically, be ready! If you're serious about purchasing a home then you need to have all your ducks in a row because it IS a Sellers' market. Have your financing in place & be prepared to look at properties as soon as they become available. In order to do this, please, please, PLEASE, find yourself a LOCAL REALTOR® to assist you in your search! The WHY is a future blog topic for sure! If there's not an offer date then more often than not, by the time you see a new listing come up on realtor.ca it will already be tied up! This is not a scare tactic, it's just reality. Another advantage to working with a REALTOR® (at least in my brokerage) is that we have the RE/MAX Jazz "Exclusive Program" where our clients have access to many homes BEFORE they hit the MLS®!
Another thing to keep in mind is just like with selling a home, using the right strategy when it comes to offering on properties will increase your chances of being successful whether you're a First-Time Buyer who has flexibility on your side or a Move-Up Buyer who is challenged with coordinating both a sale & a purchase! Strategy=Success (well not always, lol...but your odds are definitely better when you're strategic in your actions!)
The typical sales cycles that we're all used to don't always apply anymore...those original cycles came to be based on the school calender & not only does that calender not apply to ALL of the Buyers & Sellers out there, but in today's low inventory market if a great house comes on the market sometimes you just have to bite the bullet & move on it! And if you're the Seller of a great house, know that there are those out there waiting for you to make your debut...so make it a good one!
Ready To Get Started?
Sellers: Click HERE to schedule an evaluation of your home! Whether you're moving up, moving on, or it's time to downsize, I can help you achieve your goals!
Buyers: Click HERE to receive my e-book which will walk you through the home buying process from start to finish. Let's make your dreams of home-ownership a reality!
Interesting Reading:
I like some of the tips in this article HERE, what day of the week to hit the market & don't end your list price with a zero...whether it really helps or not, it's all about being intentional with your choices!
I especially like this one HERE for a great explanation about so-called "shadow demand" & how the number of sales that firm up each month do not speak to the actual demand out there...if there's not enough inventory to satisfy the demand then those unsuccessful Buyers represent the shadow demand.
Some good stuff HERE on Real Estate Myths which coincidentally line up with my thoughts on those issues, lol ;)
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