I’d like to take a few minutes and talk about this and how it affects buyers.
First, I often get asked, “when will this market calm down and will the market crash?” Obviously, I do not have an answer to this or a crystal ball. (If I did, that lotto max might me mine 😉 )
Here’s what I can say. The first couple months of the year are very busy. Inventory is low and we have more buyers looking for property than we have properties available to sell. As we get closer to spring and summer this will even out slightly. More sellers tend to list their homes for sale as the days get longer and the weather is nicer.
As for the question “will the market slow down”, to that I can only give my opinion. I think in our area, (Brock Township) we won’t see any significant softening of the market. We have a very low inventory of homes at this time more and more people are looking to enjoy the small town lifestyle which allows them room to “breathe”.
My advise to anyone looking to buy, especially first time buyers…START LOOKING NOW ! There are still some excellent opportunities to purchase in our area. Prices are still the lowest in Durham Region for detached houses. You can also find homes that are in need of upgrades which can add value right away.
Homes prices have steadily risen over the past 5 years. In 2017 we saw a jump in home prices across the board in most of the GTA. Some areas were so hot that in 2018, it caught up with them and they saw a drop in their market. That did not happen in Brock!
Brock Township is a steadily growing community with much to offer. Whether you are looking for your first home or upgrading to accommodate a growing family, I feel Brock will be a great investment for your future!
Below is a data from the TRREB that shows the average sale price for a detached home as well as how many days on the market in Brock Township.
Days On The Market
Numbers don’t lie. If your looking for a home stop procrastinating and give me a call so I can help you get your search started.