Yes, it's been a very interesting few years. Where do we go from here? As they say, it often gets worse before it gets better. Are we at that final stage? Well, based on what we've all experienced in the past few months, we just might be.
So, what does this mean?
For investors, I believe it could be one of the best times to buy and invest in real estate. With all the price adjustments and incentives available now, the value compares favorably to times of lower interest rates. During those times, it was a seller's market, with less flexibility and fewer incentives. Interestingly, some investors will still be okay after 10-15 years; it's the quick turnaround ("flip game") that can pose risks.
Regarding today's market—wow. What deals do I see available? Interestingly, some of the best opportunities may not be widely published or promoted. We have clients who prefer to offer great deals directly to buyers off-market, rather than through conventional marketing channels. With almost four months of inventory—something we haven't seen since 2016—it's undoubtedly a buyer's market. However, let's not deceive ourselves; this also benefits sellers. They, too, can buy their dream home if they're upgrading, without the pressure of multiple offers and unconditional bids, which can be risky. This market provides more control over your situation and greater protection.
So, is it a buyer's market?
I'd say it's a balanced market, fair for all parties involved. For the past 3-4 years, it has been a predominantly one-sided market. If you're considering your dream property or investment, this could be the right time. You now have a range of options—you can essentially choose the product you want and align closing dates with your goals and budget.
We are fortunate to live in a very healthy province and country, where price and value are concerned. Let's face it; it's a beautiful place to live with four amazing seasons. If you're looking for getaways, a short flight can take you to the Caribbean or Florida for warm winters, or enjoy the beautiful summers in Muskoka and many other destinations.
Ready for the next step?
As we transition into the fall season, there's no better time to take action in real estate. With more buyers actively searching for their dream home, sellers have a greater chance of finding the right match quickly. The smart choice is to seize the opportunity this fall and make your move in the real estate market.
We're with you every step of the way, focused on your needs to help you achieve your real estate goals. Connect with us today and let's make it happen!