One of the questions we get asked most often here at The Chris Keleher Team is, “What’s the real estate market like right now?” While that question is easy to answer if you’re referring to some regions, like the GTA or Barrie, the market here in the South Georgian Bay is extremely diverse and fluctuates constantly.
This is why our team diligently stays on track with what’s going on in the real estate market, including the different nuances that occur within the small pockets of our market. For instance, there are four different markets in Collingwood alone, and not only do market conditions change by location, but they’re also impacted by neighbourhood, school catchment, house size and style, and other factors. In some cases, a buyer’s market might exist in a new condo development while a seller’s market happens simultaneously in another subdivision.
There isn’t really such a thing as a good market or a bad one, since it’s all about how your real estate goals match the current market at the time. Here’s a brief introduction into each generalized type of market, so you can get a better understanding of how you fit in:
- Buyer’s market—There are more homes on the market than there is demand for them.
- Balanced market—The demand for homes and the number of homes for sale is equal. This type of market never lasts for long!
- Seller’s market—The number of buyers is more than the number of homes up for sale.
Once we know what you want to buy, when you want to buy, your price range, your target neighbourhood, and other factors, we’ll strategize based on the real estate market in your area to make beneficial decisions about how to move forward. Give us a call today to go over your real estate goals!