that time again…to provide you with a market and listing update. Currently, the
market is doing better and quite a bit better than this time last year. There
have been approximately 370 homes (houses, condo’s, mobiles, etc) listed
in Oliver within the past year which is 10% less than last year and there has
been a 21% increase in units reported sold. Which is a great sign because with
less listing’s on the market and more sales, it is creating a more balanced
market. Essentially, the market is transitioning from a buyer’s market to a
level market which is great for you as vendors because you have less
competition and more value.
The market has been trending toward a more balanced market, which usually means more sales and less listings for approximately 4 months. This trend has been occurring since June 2012 and if the market continues this way, we could finally see a balanced market by September 2012.
This is a great time to consider your competitive position within the market. Winter is approaching and now may be the time to consider repositioning yourself. Price is a huge distinguishing factor and is to a large extent what helps make your listing stand out from the rest. Pricing your listing according to market value is essential in getting your home sold.