by Stuart Neal
on Tuesday, August 13th, 2019 at 7:21am.
If you have had your home for sale during the summer months and not sold, it’s tempting to think about giving up. We would encourage you to stay the course. Giving up now is quite likely the wrong thing to do.
Here are 5 reasons why you should stay in the market:
1. There is so much more life left in the market
Based on last year’s numbers, almost 4,000 homes and condos will sell before the end of the year (not including outlying areas like Sherwood Park and St Albert). This represents around 35% of ALL homes and condos sold during the year.
2. Less competition
September is when many home sellers leave the market. Mistakenly, they assume it’s the thing to do. If you stay in the market, you will have far less competition than you experienced during the summer.
3. Sales prices get better
You may get more money. In most years we see home sales prices peak during the last 3 months of the year. Based on our market report (see this link Ambergate Market Report) home buyers paid MORE in September, October and December.
4. New lending rules
Starting September 2nd, the federal government is launching a new program designed to encourage first time home buyers to enter the market (First Time Home Buyer Incentive see details here). Essentially the government is going to partner with new home buyers to help them create a down payment. This program applies to buyers with a joint income of less than $120,000 a year. In the metro Edmonton market this applies to most of us. We expect therefore that the low to mid-market priced segments are going to experience stronger demand and consequently firmer (higher) sales prices within a very short time frame.
5. Your home and neighbourhood will look even more inviting
September is when we see the fall colours come into our communities. Home buyers fall in love with cosy homes surrounded by trees and landscaping in fall colours. It appeals to the nesting instinct present in most of us.
Want more information about our lower cost FLAT FEE home selling programs? Please feel free to call our broker owner Stuart Neal at: 780-760-2014 or visit our home sellers page www.FlatFeeRealtyAdvisors.ca