Not in the slightest.
However, what we are starting to see percolating to the surface is a slight shift in the market. As you probably know, I'm not a strong believer of the crystal ball or predicting the market with any absolute certainty. We have lots of variables (I'm trying to be politely professional) in this world, as we know watching the news. But trends are trends.
For sellers and buyers am I seeing anything that should create a panic.... No. Am I seeing things that should have you adjusting your plans......Maybe.
If you've been thinking about selling, the early spring is going to be the time you want to aim for. When is that? Well, it's now. If you were planning on selling at the end of April or into May I would try and move up your timeframe. We're starting to really see buyer fatigue.
What is that?
Buyers are still out in record numbers but the number of offers are starting to wane. Buyers that have been in the market for a little while are starting to tire from the competition and losing offer after offer. That's why in this case we're seeing the average sold price starting to slow in its escalation. Will we see prices drop in the coming months? Possibly. But nothing that would be astronomical. If it does happen though I don't believe it will be until July or most likely August.
However, getting in now, while you still control the offer process and in order to maximize your chances of record profits, strike while the market is still blistering hot for sellers. There's more money on the table, offers are still producing record setting sold prices, and you can extend your closing to almost whenever you want..... right now.
For the buyers out there. It seems slowly starting to shift towards your favour. Is it going to be a buyers market any time soon? No I don't think so, unfortunately....sorry. But the market, in its never-ending ebb and flow, which has for months and months now only flowed towards the sellers benefit. Well, it looks like it's flowing towards you, albeit in micro steps.
I would take heart in knowing come late March you may be able to compete. You might be able to get a place without having to pay a record setting price. If you wait until May to July you may even start to see some deals. They won't be easy to find but I believe for this brief period it could happen before more gains hit the market.
Regardless of your status, whether a buyer or a seller, you can't time the market. We've seen and it's been proven time and time again. But, it is always possible to capitalize. If you're interested in seeing how we can help on either end or both. Or if you just have some questions about anything at all I'm always available to chat.
