Is It Time To Beat The Spring Rush?

For years people in the Ottawa region have believed the real estate market somehow died every September and was reborn in May. It simply isn’t true, especially this past year. While overall sales numbers are lower during the winter months, with people taking homes off the market to wait until spring, there is often a shortage of inventory in the fall and winter months. IE Buyers have fewer homes to pick from which is good news for sellers.

In the past we have done sales on both Christmas Eve and New Year’s Eve. Right now, we sold one in Kemptville last night which had four offers. That was just three days before Christmas! It has been our experience over the last 5-6 years that the fall market and winter market has remained very active.

Let’s look at the 2019 numbers which included a very long, hard winter.

Using the Ottawa Real Estate Board numbers:

WINTER MARKET

Month           New Residential and Condo Listings              Residential and Condo Sales

January                        1373                                                             820

February                      1369                                                            1005

March                           2210                                                            1511

Total                             4952                                                             3336

SPRING MARKET

April                              2753                                                            1594

May                              3224                                                             1869

June                              2559                                                            2105

Total                             8536                                                            5563

No matter how you look at it, a seller going on the market in the spring is faced with a lot of competition. While there are a lot of buyers shopping around in a Spring market they generally are in a good position when negotiating with sellers as they have a lot of homes to choose from.

In our experience while fewer in numbers, Fall and winter buyers are very determined to find a home. In many cases they have sold one and have to find one, apartment leases are coming up or they have transfers due in the new year.  With fewer homes to choose from, the seller is in a better position.

Are You Thinking About Selling? Are you waiting for the spring market? Stop! Check out this short video!

VIDEO

Brought to you by Bev and Keith Beardsley, Sales Representatives AND ALSO “Seniors Real Estate Specialists” with Century 21 Action Power Team ltd (Brokerage). Call or text 613-897-6839. Web Page www.BeardsleyTeam.ca.

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