Buyer Demand Continues To Outpace Supply
Home values continue to increase and, prices are expected to continue to rise throughout 2022 and even with the Bank of Canada raising its benchmark interest rate to 0.5 per cent its not expected to slow the trend, a move that’s expected to be the first of a series of small rate hikes this year. Buyer demand is high and looks to continue this trend in 2022
The greatest interest with buyer’s seems to be in single family detached homes and, the lack of supply continues to push prices higher. By the end of 2022 the different real estate brokerages are expecting an increase of 10.5 per cent year-over-year (typical long-term growth is around five or six per cent annually). Milton, Ontario has been a location of choice for many buyers looking to get in the market
The question on everyone’s mind, of course, is how long will this continue? will supply continue to be overwhelmed by demand as it was last spring? Hopefully we will see a return to a more balanced market over the coming months as more sellers come to market. Immigration remains one of the largest drivers of buyer demand and it is expected to be at or near record levels in 2022. Team Hilson continues to keep all our clients up to date on the real estate market
Remember The Market Changes – What is True Today May Not Be True Next Week
If we had a crystal ball we all would have invested in Apple stock or stocked up on toilet paper in February 2020, so it’s important to remember that the real estate market is fluid and unpredictable too. There’s a trade-off between taking time getting your home ready for sale and taking advantage of great market conditions We’ve seen more than a few Sellers spend months fixing every little thing in their home and then miss out on the market opportunity. Don’t be that person. If you’re working with an agent who is on top of what’s happening and understands your goals and motivations, listen to them! The Hilson Team keeps their clients up to date on the market so they can make an informed decision at the right time.
Timing Is Crucial
Have a plan in place when selling your home, and timing it right can make a big difference in how much you sell it for. Some of the things you’ll want to consider:
We live in Ontario and have 3 seasons listing a home in the middle of a snowstorm will have negative effects on showings. Consider listing in warmer months, people are more active when the smell of spring is in the air.
This is one of the most critical factors…what other comparable homes are for sale right now and when are they accepting offers? Depending on the type of property you own, having nearby competition might be a good thing. Hiring a local real estate agent is important. The Hilson Team are a local family of realtors who have been living in the Halton area for over 55 years.
Whether you are just looking to sell or buy then sell, the Hilson Team is here to help you secure the home of your dreams. Buyers are certainly frustrated, but with a real estate team that understands the markets that dream will become a reality.
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