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Feb
06
2017

2017 Spring Market Forecast – Insights from Dan Cooper

As a homebuyer what can I expect?

With listing inventory being at its lowest point in a decade, homebuyers are facing fierce competition. Many listings are coming on the market with scheduled offer presentation dates resulting in multiple offer situations and often above-asking sale prices. According to CREA “Canadian homebuyers face some challenges this year, including new mortgage rules that make it harder to qualify for a mortgage and regulatory changes that will push up mortgage financing costs.” It is more important than ever to work with an experienced, reputable realtor that can guide you through every step of the process and help you make informed decisions.

As a seller what can I expect?

We saw record sales in 2016 and expect this trend to continue throughout 2017. According to the Toronto Real Estate Board “Price growth accelerated throughout 2016 as the supply of listings remained very constrained. Active listings at the end of December were at their lowest point in a decade-and-a-half.” The imbalance we’re seeing between limited supply and robust demand are what we call a “seller’s market.” With fewer listings on the market, proper pricing, a good marketing plan and knowledgeable realtor, one can anticipate a higher sale price in a relatively short time frame. Oakville’s median residential sale price for January was $988,500 (an increase of 28.54%) compared to January 2016. The median sale price in Milton was $665,100 (an increase of 20.94%) compared to the same time last year. In Burlington the median sale price was up 14.1%.

What can I do to prepare my home for sale?

Once you’ve made the decision to sell and have engaged a realtor, it’s time to get your home in tip-top condition. A great starting point is a thorough cleaning to make your home spotless (don’t forget potential buyers will be looking in your cupboards), declutter, depersonalize (remove items such as family photos), repaint in neutral tones, remove big furniture pieces that can make a room look small and work on the curb appeal to make homebuyers fall in love with your home as they arrive. A professional home stager will put your home’s best foot forward and help you get top dollar!

Since homes are selling fast, does it really matter what real estate company I work with?

Absolutely! As you prepare to sell, it’s important that you partner with a real estate company that has the knowledge, expertise and proven track record to ensure that this is a seamless and positive experience for you. When you choose to partner with the Dan Cooper Group, you get so much more than the industry average. You are tapping the vast potential of a distinguished team of professionals with over 90 years of combined expertise. Together, we bring to the table a unique range of complementary strengths, specialized backgrounds, accreditations and award winning results. Our full marketing program ensures maximum exposure and reach for your home.

Have more questions for the Dan Cooper Group? Reach out to us at hello@dancooper.com or browse our website to learn more on how we can help you during this Spring Real Estate Market.

Thinking of Selling? Get a complimentary Market Evaluation of your home.

Looking to Buy? Join our Home Watch Program and don’t miss out on your dream home.