Ah, spring!
The melting of the snow, the bursting forth of spring bulbs from leaf-strewn gardens, and the growth of “for sale” signs from neighbourhood lawns…Wait, what?
It’s true, though.
We know winters are a slower time for real estate, so when the weather improves and hopeful home sellers can once again add curb appeal to their homes, they take the opportunity to begin the selling process. Perhaps that’s why it seems as though there is a frenzy to the spring market…sellers are making up for the time they didn’t use during winter weather, when it’s harder to display a home’s best features, or keep floors clean in preparation for walk-throughs.
Heading into the Niagara real estate market in spring, we are aware that new mortgage rules and a hike of interest rates to 1.25 per cent has given the impression that both sales and prices have cooled in the recent months. The truth is that they haven’t. While the number of sales in Niagara have dropped back to the historical normal, prices have actually continued to rise!
However, since prices are still lower here than in the GTA, and demand for homes in Niagara from commuters relocating here is still high, we anticipate the annual spring real estate market frenzy won’t disappoint either home sellers or homebuyers. While prices locally are still on the rise according to the Niagara Association of Realtors’ January market report, the average number of days on the market to make a sale have increased.
That said, we know the spring real estate market can bring surprises, like multiple offers, fewer days on the market and other pieces of good news for sellers.
Homebuyers may face an excess of choices and the need to quickly make decisions, but that’s where we come in: our expertise in navigating the Niagara real estate market during the spring will assist eager homebuyers in finding their dream homes and presenting the most attractive offers possible.
We work hard to stay on top of the spring real estate market, so you can finally come home to Niagara.
If you’re ready to do just that, we are ready to begin working for you. Let’s dive into the spring real estate market together!
Call the Newbigging-Pearson office at 289-686-1552 or send us a message here!