Inventories are Low - Prices Look Stable

04/04/2005

The Team
This Century 21 thing is going great. The response from our clients has been very positive - they especially like the idea of receiving Air Miles when they buy or sell with us. Our new Two-Year Team Goal is to become #1 in Canada within the C-21 system. After talks with the head office it seems very possible and because I’m an optimist I’m going to go out on a limb and say very probable. So if you’re thinking of buying or selling your home, now is an excellent time to use our services because we are intensely motivated to meet this goal. To date we have already increased our over the top marketing budget by 30% and there is more on the way.

Real Estate There’s no other way to say it, January and February sales generally sucked while March was refreshingly average. This can only mean one thing, the spring market (April to July) is going to rock. You see real estate, like everything, runs in cycles and although we are nearing the end of our recent boom, seasonal and annual cycles continue peak and trough within the larger cycle. The fact that the first quarter of this year has fallen short of expectations means the cycle should come around very shortly and set up for a strong spring market. At least that’s how it normally works. So cross you fingers.

As for Prices, they should remain reasonably stable for the next three or four months. This is due partly to the fact that prices appear to have hit the ceiling and have been following a more stabilized trend over the past few months. Although we seem to be nearing the end of our real estate boom there appears to be somewhat of a short supply of listings, which is an anomaly. This is coupled with a demand that could be described as seasonally normal. With all factors considered the general trend appears to indicate an environment that would lend itself to a stable market.

Another interesting trend is in the higher end and specialty properties, like hobby farms, waterfronts and B&Bs. There seems to be a good number coming on the market and the buyers appear to be receiving them well. That is definitely a sector of our local market we will be keeping an eye on.

All and all, this spring looks to be full of activity and as long as you don’t get to greedy with you pricing, you should find that the market will be cooperative. And as always, if you’re thinking of making a move this spring or summer, don’t wait to get your house on the market. As I mentioned there appears to be a bit of a shortage of inventory right now, but April is generally a big listing month. So avoid the crowds. Homes listed when competition is low, generally sell faster and for more money.

This is Rob Thompson saying, “Good Luck and Good Selling!”

Rob Thompson has been helping families make the right real estate decisions since 1985 and continues to do so with his team of professionals in the communities of the 416 and 31 corridors.

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