Looking Forward to 2015!
Posted by The Rocca Sisters & Associates
It’s that time of the year again… a season of joy, giving and great food! We hope you stay healthy and safe this holiday season and we also wish you all the very best for 2015. We will continue to provide you with our insights into the real estate market each month and we hope this information is useful and illuminating. Your thoughts and comments are always appreciated.
As to the current market conditions, while the market seems to be slowing, we are still seeing properties sell within days and for very strong prices in most communities. As has been the case all year and in just about every community in which we trade, properties that are well maintained, reasonably updated and intelligently priced sell quickly and for 99-102% of the asking price. There are, of course, some exceptions.
It is our expectation that a strong market will emerge – a more balanced market than we saw last year but still slightly more weighted towards the seller due to a continued shortage of inventory in most communities.
What does this mean for our buyers and sellers? It means that for serious buyers, you will need to be aware of new listings the day they are listed and you will need your Buyer Specialist to have an extremely good handle on the market. Make sure you have met with your Buyer Specialist to review your criteria. For sellers, you will need to pay particular attention to the condition of your home and price it sharply. Our Listing Team will know exactly what needs to be done and will take you through the steps to ensure you are ready to go. Our clients will be well prepared for the 2015 market and as always, we will provide a service that is not just the best, but remarkable!
Some interesting statistics:
The following is a list of the areas in which we trade and the average YTD price of a detached 4 bedroom, 2+ bathroom, double car garage home for 2014:
Provided inventory levels are strong, we expect to see level pricing in most communities with the exception of Hamilton Centre, Grimsby and Stoney Creek, all of which are communities that will be affected by GO Train development over the coming years. Access to public transportation is often the key to a community’s growth.
If you have any questions, please do not hesitate to contact us. It would be our pleasure to assist you!
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