As we would expect, and in keeping with historical trends, the holiday season saw a marked decrease in listing inventory. This presented the new year with somewhat of a fresh slate to kick off the spring market. In some cases, we can see a quick start after the new year, both in terms of new listings as well as ramp up in sales activity.
So far this January, we have seen a fairly consistent flow of new listings with a tempered increase in sales. The big question surrounds sales volume, and whether a sense of urgency returns to the buying public. Interest rates, predicated on weak economic expectations going forward, are set to stay low. So no help there in terms of urgency. Naturally, the other focal point will be on supply and demand. As the spring market continues to evolve, we can expect that the well priced and good looking properties will continue to dominate the sales landscape, while older, tired, or over priced listings will linger.
If you or someone you know is contemplating entering the market as a Buyer or Seller, please call anytime! The best outcome is determined not by luck, but by well executed planning. I would be honoured to help.