Low Inventory Lead To Tight Spring Market
As we head toward the end of February, we have had a very strong first 2 months in Real Estate here in Barrie. It has been 24% better than in the first 7 weeks of the year. Strong sales have depleted our inventory though and there is currently a shortage of well priced listings. Good for Sellers but Bad for buyers. If this trend continues in to the month of March, we could see a very tight market with competing offers.
Income properties are in high demand as investors have roughly 50 days remaining to buy with only 5% down instead of the new rule at 20% down. In the last 7 days, there has been 3 legal duplexes listed under $250,000 and all sold with competing offers within the first 2 days on the market. So if you are thinking of buying or selling a duplex, do it AS SOON AS POSSIBLE, as demand will fall at a 20% down payment.
Economy here is smooth as Honda Alliston is hiring again and offering overtime to employees. Consumer confidence is high as well so should be a great spring.
Remember if you are not sold withint the first 21 days, then you are not price corrected.
Call Trevor Shaw 705-791-5004 to get the Results!