Over the last 12 years working in real estate I’ve seen busy real estate markets, but I have also seen down markets. A question I’ve been asked many times over the last few months is, “Should I wait until spring to list my home?”
Should I wait until spring to list my home
With supply low and demand high for our area, the best time to list your home is right now. Interest rates are still very low and as Nanaimo is a close but affordable city compared to both Vancouver and Victoria, it makes our beautiful city a very desirable place to buy a home or investment property.
Nanaimo’s real estate market
Right now there are 369 single family homes for sale in Nanaimo, compared to just a few years ago when that number was sitting at approximately 700-800 homes. If we think about those numbers, it tells us that the amount of homes being listed is much lower than the amount of homes that are being sold. This makes it a perfect opportunity to sell your home for more money and in a shorter period of time.
The market right now reminds me of the market in 2006-2007. It was extremely busy and I would often be working with 8-10 different sets of buyers at one time, with many listings going into multiple offers. Over the last few months I would say many of homes coming on the market have been selling over the asking price, which is the best indicator to tell if the home sold with more than one offer.[su_divider size=”3″]
If you’re thinking of selling your home, the best time to put it on the market is today!