We know the market has been changing a lot lately. It may seem hard to get a good grasp of who the market is currently good for. What we’ve seen is that if you are looking to move up from a condo to a semi-detached or a townhome, this is a great time to sell. It is also a good time to sell if you are looking to upgrade from your townhouse to move into a detached home. Lateral moves or upgrades within the detached market are cooling down a bit at the moment.
Homes in those categories are still selling, sometimes even attracting multiple offers, but not every home is the same!
While in general, for some it is an ideal time to list your house, markets can vary on your specific location. A hot neighbourhood will always have interest. A less desirable neighbourhood you may need to think more strategically on timing.
In a changing market, we recommend selling your home first to guarantee what your budget will be when you go to buy. You won’t get as much for your home as in January or February of this year. The good news is that if you’re moving up into a bigger home in the same area, the home you’re buying is down, too. This means you can apply for a lower mortgage – which can be easier on your finances.
To understand how your specific situation fits into this market, get in touch! I’d love to answer your questions and ensure you get top dollar for your home and find the perfect next home.
