By Tom Albrecht | Feb 06, 2018 | Buyers
So if you’re thinking about getting into the market, you may be growing a little concerned. If you’re thinking of listing your home for sale, this blog will have some really really helpful info for you, too.
Today I want to share a pretty cool chart, and use it to explain some of the thoughts I’ve been having. If this year is your year to buy or sell, I am hoping you will find some cool nuggets of info.
December & January are typically the lowest inventory months of the year, with this year being no exception. In fact, the most scarce day appears to have been Feb 1, and that, my friends, is a date in the past...
From February to June (at least), choice for buyers tends to increase.
[caption id="attachment_28368" align="aligncenter" width="850"] Number of New Listings YTD in The Last 4 Years, Grouped by Subdivision[/caption]
Before we get started analysing this thing, let’s make a really important note: This graph only includes homes without condo fees (most commonly single family homes and duplexes) and vacant lots have been excluded. I’ll write a follow-up blog soon with the equivalent chart for condos, and it’s super interestingly different, so feel free to follow us on social media so as not to miss it. If you can’t wait, please feel free to get in touch for personalized advice.
We can learn some things from the chart. Here goes...
a) People have been waiting to be able to sell (deferred listings...i.e. People who would have listed last year, but couldn’t for obvious/sad reasons). b) The fire has caused people to want to sell. c) The fire has caused people to be able to sell. In some cases, victims of the fire have a more valuable (to the market) product today than their unaffected neighbours. Due to having a new home to sell, they may not be affected by negative equity in the same way, so can still afford to sell.
What about the "How" to find listings question? Well, you could have one of our specialist buyer's agents help you. In the meantime, please enjoy searching the whole MLS® here on our website. We are committed to not hassling visitors if you just want to browse!
If you are looking to sell a home with one of our listing agents, they’ll be careful to not just look at the price range, but also the location, when fine-tuning pricing for you. In a balanced market, their marketing abilities can be used to premium price certain homes. If your home is in Timberlea, Thickwood, Dickinsfield, etc., then that’s a good thing because you don’t have much competition yet this year, and there are plenty of buyers in those parts of town.
I hope you enjoy these blogs. We’ll be posting every day from now until March something, so be sure to check back or subscribe to the newsletter, if you like them. Thanks for reading and sharing!
1 The interpretations of the MLS® data are my own and don’t reflect the opinions of the Fort McMurray Real Estate Board or its members. There is plenty of my opinion in here, but the data we are using is super accurate. Not intended to solicit clients currently under contract with a competing real estate brokerage.
2 The data covers sales of all property types only the following areas: Abasand, Beacon Hill, Dickinsfield, Downtown, Eagle Ridge, Grayling Terrace, Parsons North, Prairie Creek, Stonecreek, Thickwood, Timberlea, Waterways and Wood Buffalo.