With summer in full swing I feel guilty even brining up the fall. But forecasting based on current market conditions and experience is often what we need to do to guide us in the right direction.
With the spring and summer so strong, its hard to imagine that the Falll will be any different, but it will be,…in fact it will be much stronger. The spring taught us something about our market, it doesn’t want to slow down. with not only new heights in prices, but also record sales, the writing was on the wall that even with a lot of supply the amount of purchasers was still superior.
you see it is quite normal for a market to see up swing prices when there isn’t a lot of choice, but to have lots to choose from and still the amount of competition we saw, it is a compliment to our amazing market conditions here in Guelph.
I have always felt, as shocking as prices may seem some time, our increases are still modest compared to other roller coaster markets. And Sellers and buyers should feel great about it. Sellers are getting out at record prices, and buyers are getting into a fanatics market that should shows them consistent appreciation for years to come.
The fall should be a great market to do both in as well. For a number of reasons
First, for the Sellers, The spring has been the tone setter in terms of price, with new values being pushed, evaluations for fall listings will be based on the highest sale prices of the year.
With so many listings in the front of the year, there is a great possibility in a limited amount of inventory, thus creating a more competitive selling situation.
For buyers-read above again and get in. Ive also said, “real estate is more about “time in” than timing. And the time to start is now.