The January stats are in and believe it or not the number of new listings and homes on the market is way up from last year in January. New listings this January were up 35% year over year and the number of homes that didn’t sell and were still on the market the last day of the month in January year over year is up a whopping 507%.

The number of sales over the same period is down 36%.

So what does this mean.

1)It is a buyers market! There are deals out there to be had with lots of inventory to choose from! If you want to up-size this is the time to do it! Lots of deal over 600k! Homes that were 900k selling for 700k.  

2)Sellers need to get more realistic with there prices! The average house that does end up selling right now is on the market for 22 days. Where as this time last year it was 6 days. The only reason it was 6 days last year was because agents were waiting at least 5 to hold offers, otherwise it would have been 1 day!

If you are plan on making a move this year, either buying or selling you need to have a plan. If you want to schedule a strategy session with me, I am available at your convenience. We can chat over the email, the phone or Zoom!

Ps. Zoom is great because I can share my screen and we can look at homes right there on the screen together. Great if you live in another city and don't quite know the neighbourhoods. 

Let me know if you would like to schedule a call!

Have a great weekend!