Warren Shouldice

Cell: 403-461-8103 |

The arrival of March traditionally brings new real estate activity to markets all across the country. This is the time of year when families are most likely to purchase a new property so they can ensure an easier relocation during the summer. As a result, almost every community will see an influx of buyers looking for new homes. If you are wondering about taking advantage of this market or you happen to know someone who is, give me a call. I can help navigate this year’s spring market, and ensure any purchase and/or sale goes smoothly.


Market Update:


Sales eased across all product types in February. While year-over-year price growth remained relatively stable in both the detached and attached markets, apartment prices remained three per cent below last year’s levels.  The housing market continues to adjust to a number of factors including the labour market, rising lending rates and changes in lending requirements.


Quick Stats:

 

 

  Feb. 17 Feb. 18 Y/Y % change
Detached      
Total sales 822 657 -20.07%
Inventory 1,995 2456 23.11%
Months of supply* 2.43 3.74 54.03%
Average DOM 42 days 45 days 8.38%
Benchmark price** $499,200 $502,800 0.72%
       
Attached      
Total sales 277 240 -13.36%
Inventory 1117 1319 18.08%
Months of supply* 4.03 5.5 36.29%
Average DOM 50 days 55 days 9.76%
Benchmark price** $328,000 $328,200 0.06%
       
Apartment      
Total sales 235 197 -16.17%
Inventory 1,390 1427 2.66%
Months of supply* 5.91 7.24 22.46%
Average DOM 66 days 68 days 1.87%
Benchmark price** $264,300 $256,400 -2.99%


*Months of supply: The ratio between inventory and sales which represents the current pace of sales and how long it would take to clear existing inventory.


**Benchmark price: The monthly price of the typical home based on its attributes, providing the best measure of price trends.


Remove Emotion When Selling


Most real estate experts agree that being too emotionally attached to your home can lead to poor decision making, such as over-pricing the listing and making hasty choices based on feelings rather than facts.

 

Of course, removing emotion from the home selling equation is easier said than done. After all, it is your home. It’s only natural to be emotionally connected to it. So, how do you ensure that emotions don’t get in the way of selling your house quickly and for the best price? Here are some strategies:

  • Think of selling your property as a business transaction only. Focus your emotions on the new home you’ll be moving into soon.
  • Stow as many personal items as possible, such as trophies and family pictures. Turn your home into an attractive product.
  • If a buyer makes a negative comment about your property - “I hate the deck colour.” - don’t take it personally.
  • Avoid judging offers to buy your house based on whether or not you like the buyer.

Finally, whenever you make a decision during the home selling process, ask yourself: “Am I making this decision based on fact or emotion?” If the answer is “fact” then, chances are, you’re on solid footing.

 

Make Your House "Picture Perfect" For Buyers


When you walk into a nice hotel room, what do you usually notice first? It may be the large, often beautiful picture hanging above the bed. You’ll probably find a smaller, equally attractive picture hanging in the bathroom. Often there will be at least two more adorning other walls.

 

That’s no accident. Hotels know that pictures are the simplest, surest way to make a good-looking room look great.

The same thing holds true when preparing your house for sale. According to home staging experts, hanging a few quality pictures can transform the look of just about any room - even a washroom!

 

Chances are, you already have pictures hanging in your home. Do you need more? That depends. If you have a room that seems dull, and there is open and empty wall space, try adding a picture. You don’t have to buy one or hang one - just have someone hold up an existing picture. If the look of the room improves, consider adding a picture in that spot.

 

Pictures don’t have to be expensive; they just need to be of good quality. Many retailers sell good-looking, nicely-framed pictures at affordable prices.

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Data supplied by CREB®’s MLS® System. CREB® is the owner of the copyright in its MLS® System. The Listing data is deemed reliable but is not guaranteed accurate by CREB®.
The trademarks MLS®, Multiple Listing Service® and the associated logos are owned by The Canadian Real Estate Association (CREA) and identify the quality of services provided by real estate professionals who are members of CREA. Used under license.
The trademarks REALTOR®, REALTORS®, and the REALTOR® logo are controlled by The Canadian Real Estate Association (CREA) and identify real estate professionals who are members of CREA. Used under license.