Real Estate

How to Time the Real Estate Market

Timing the real estate market is about you, not the market. I know that’s not the answer you were looking for but it’s true. Real estate is 365 days a year – there’s no wrong or right time outside of your personal needs, but there are seasonal flows that may impact your decision making.

Winter: Most sellers avoid the market from December to February as the weather is the least favorable and buyers are nestled in their beds. This is when sellers that “must sell” hit the market and bargain buyers remain present.

Spring: From March to June the market is bountiful. This is typically the peak of good quality listings and competition is robust. If you’re a picky buyer this is a great time to get high quality properties. This is always a good time for sellers as most buyers have been trained to shop in the spring.

Summer: July and August are vacation months. Most families are focused on experiencing the beauty of BC or travelling abroad rather than the hustle and bustle of real estate. During this time you’ll often find picturesque vacation homes for sale, waterfront properties, and properties that didn’t sell during the spring market. Summer is a great time to buy as there are fewer buyers to compete with and everyone tends to operate on a more relaxed pace.

Fall: September to November is a busy real estate season. For many sellers this is the preferred time to sell as opposed to Spring. They have had the time to reflect on their needs over the summer and possibly make some improvements to their homes that can only be done over the summer months. This is also a great time for buyers looking to make a purchase before the winter kicks in.

In general, there is no wrong time to engage in real estate. Real Estate is not rocket science and I encourage my clients to feel in control of the process rather then operating on the illusion of a crystal ball.

ALWAYS operate on your terms and then decide if the current market conditions support your needs to achieve your real estate goals.

Click here to view my recently SOLD properties.

Vassi Balatico 778-688-4948

Should I Buy first or Sell first?

Detached Homes

Buy first or sell first? Knowing what to do first in Vancouver’s Real Estate market depends on a few key factors.

Here’s a few questions to help you find the right answer:

  1. Are you in a Buyer’s Market or Seller’s Market?
  2. The specific housing type you’re looking to buy and sell (detached house, townhouse, condo)
  3. The condition of the property you’re looking to sell
  4. Your timeline
  5. Your finances

Are you in a Buyer’s Market or Seller’s Market?

In real estate we look to the Sales – to – Listing Ratio to know if we are in a Buyer’s Market or Seller’s Market. This is a ratio of the number of homes sold vs the number of homes listed. While we often look to Average Sale Price to assess how the market is performing, inventory is actually the best indicator of the overall market conditions.

Seller’s Market = above 20%

Balanced Market = 12% – 20%

Buyer’s Market = less than 11%

If you’re in a Buyer’s Market you’re likely to sell first then buy. If you’re in a Seller’s Market you’re likely to buy first then sell. If you’re in a Balanced Market this depends on a number of factors primarily based on your personal financial circumstances and the type of product you’re looking to sell and buy (detached house, townhouse, condo, duplex).

It’s important to look at the stats of the specific neighbourhoods you’re buying or selling in and ensure that you have an accurate understanding of each specific real estate market before making an informed decision.

Using SnapStats, I can guide you through the decision making process and ensure you feel comfortable in a best and worst case scenario.

Lastly, you may also want to consider a Subject to Sale offer. This is when the purchase of your next property is conditional on the sale of your current property. This type of transaction is seen in a Balanced or Buyer’s Market or in niche & luxury markets.

Know that in real estate, it’s never clear cut. Every client is different, every transaction is different, and my goal is to provide you with the tools and information to make an informed decision that works best for you.

Vassi Balatico: 778-688-4948