Market changing from a Buyer’s Market to a Seller’s Market!
Are you ready for the next wave?
The market gathered some momentum in August with an increase in sales from 58 in 2012 to 68 in 2013, which is an increase of 17% and continued to gain strength for a record month of sales in September with 86 sales in 2013 up from 52 sales in 2012, which is a 65% increase.
Did you know that we have a record shortage of properties for buyers to choose from? Whistler reports an absorption rate of inventory at 10 months, which is the lowest in five years or pre-global crisis of 2008.
Why are we saying to get ready to see prices change? In my opinion, these market statistics may equate to an upcoming increase in prices. The media has spread the word that there are good deals in Whistler, but it is fair to say that time is running out to find the value and the selection. We are heading back to the market of limited choices with no new development. However, we may not see future high prices per square foot as we did in pre build-out days because it is important to realize most of our homes and complexes are getting older and will be in need of updates.
Don’t want to miss out selling in this market? Then talk to us today to get your home and strategy in place.
Here are some tips to get your home ready to list for sale;
- Consider professional photography of your property in both Summer and Winter.
- Think about hiring a building inspector to prepare a pre-selling report on your home as a complimentary service to a buyer. Be in control of the content and manage repairs that are best dealt with sooner rather than later.
- Talk to a design consultant – we have many to recommend – Staging is important and helps you realize your home’s maximum potential.
- Consider getting an independent appraisal. For most of us this is our largest asset and worth being current on value. Remember, a buyer generally will need financing and your home will only be worth what the historical sales support. An independent appraisal really helps manage expectations through the process of selling. Having realistic expectations means you may be able to negotiate with your most important buyer who will pay you fair value.
The market is moving and as a result we need your recommendations of friends and family. If you know anyone who is thinking about selling please consider putting us in touch. We have a proven track record of selling 90% of our listings within 95% of the asking price based on our 2013 WLS statistics. Our team limits the number of listings we have at one time; so together we can work closely to communicate and get your home sold. Right now, we need more listings and would appreciate your business.
Number of Sales
Months of Inventory