Hope everyone had a happy Thanksgiving weekend with family, lots of food and fun in the sun!
The weather has been amazing and that has helped inspire some better activity on our listings, although buyer demand and sales ratios continue to remain very low.
Right now Sellers are in a very competitive market, some product types more than others. Buyers seems to be re-acting to the healthy supply of options out there, some areas more than others. We are finding homes that are well presented and priced in-line with today’s market are selling; homes priced in-line with last year’s market are having a much harder time.
In Sullivan Station and Panorama the downward price curve for townhomes has been especially challenging to stay in front of but detached homes have also been feeling the price pinch and let’s not forget condos. All over the GVRED and Fraser Valley high volumes of multi-family construction has saturated markets making it much harder for sellers to move in a timely fashion. Since July, the average days to sell a home has gone up across all 3 property types.
Some say a buyer makes a decision in the first 20 seconds as to whether a home appeals or not. If you are considering putting your home on the market consider you will be entering a parallel universe. No longer should you think of home as the family home but instead as a product to be sold. It makes sense in this market to do everything you can to make your home stand-out.
Want some help? Call us anytime to discuss staging and strategy. Who knows, once you have pulled your home together … you may decide to stay!