Surprisingly, January has always been a competitive time to buy a house according to Smith. Many unfulfilled real estate searches from the previous year remain active, and buyers have just come through the holiday period when listings are usually at their lowest point. Additionally, a new year seems to ignite the hopes of many buyers looking to achieve their real estate goals. All those realities add heat to the market.

“It only makes sense that the early part of the year will have the most demand, many potential sellers are also waiting to have their gardens mulched in the spring before they list, so homes listed early in the year get an incredible amount of attention leading to a competitive market. On a house with 20 offers, you get one winner and that creates 19 buyers that want the next one even more. That’s when you see prices climb. It will be helpful if we continue to see inventory rise in the months ahead.”

Smith says it’s important as a buyer to continue to educate yourself on market realities and to develop a strategy, with the help of your agent, to help you achieve your goal. Having a plan will leave you feeling more confident in your decisions and ensure you have realistic expectations. That includes taking chances but not ones that will see you paying far too much for the home you want. Communication between you and your agent is the key to success here.

“Many out-of-town purchasers bring a different level of how far they will move value,” he said. “Sometimes, in order to have that accepted offer, you need to be ok with enduring a few rejections first. You have to be ok with taking the chance and going for it, because missed opportunities will sting more than the rejection. But you have to do it within reason. Look at the past sales. Look for value where others are missing it. Eventually you’re going to find what you’re looking for. I’ve been selling homes in Guelph for almost 18 years, and there have always been multiple offers in January and February.”