Without a doubt, the last two years have been a HOT seller’s market — now that the market is beginning to shift, we keep hearing the terms “stabilised” and “normalised” market. So, what exactly do those terms mean?
Although most markets rarely exist in a state of “normalcy,” economists predict a more stable market in the coming years — not quite a buyer’s market, but also not the seller’s market we’ve seen in the last two years.
Here are a few indicators that the market may be stabilising in the coming months:
- Houses and Condominiums are not being sold as-is with no clauses.
- Homes may be on the market for several weeks… or even months (gasp)
- Negotiations are back in most cases.
If you took a break from the housing market due to the fierce competition, it may be time to return while others sit on the sidelines and miss out. Check out the latest resale listings or new condo developments. Do you have any questions about our current market or the shift we’re witnessing? Send us an email at info@condominiums.ca
