It’s no wondering it’s a BUYERS MARKET with these statistics! With over 7,000 listings active and just under 1500 closed in September, supply is certainly greater than the demand. What that means today is that Buyers have plenty of options and sellers need to get their prices right to stay competitive. What we should all keep in mind with the looming possibility of a increase in interest rates is that NOW is certainly the best time for a buyer to buy! Which means even if you’re not too eager to sell and you don’t mind your property sitting on the market while these buyers make up their minds… it’s also a great time to sell with your priced right property and a patience in mind. There’s no definitive time frame for the interest rate hike.. but no doubt it’s coming. There’s no bubble that needs to burst in todays economy only the threat of stalled market. So the “live in the now” phrase comes to mind as we pioneer a new era in the Real Estate market!
Here’s the report! Courtesy of the RAPB