Hello everyone!
We hope the first month of the year went by as quickly for you as it did for us. We’ve noticed that the market appears to be picking up in recent weeks – likely due to a third consecutive rate hold by the Bank of Canada coupled with a continuing lack of inventory. While we are not yet back to the “Wild Wild West” of regular bidding wars and astronomically over asking sale prices, we have noted the return of sporadic multiple offer competitions and lower days on market for well priced listings. It appears that with some stability in the economic picture buyer confidence is returning and as such, demand is ramping up. I would surmise (but cannot guarantee) that if we see a rate decrease at the next BOC meeting scheduled for March 6th, the spring market may come roaring in more like a lion rather than a lamb…
As always, we are here to answer any questions you might have about the market or help guide you in making a move in the market. Don’t keep us a secret, we love and value your referrals and with every person sent our way you are automatically entered into our Ambassador Program for rewards and gift cards.
All the best for February!
Matt