Whether you’re investing in real estate to hold or to flip... timing is everything!
DID YOU KNOW? There's an annual cycle to real estate? In the Thompson Okanagan region, March tends to see the lowest average sale price, with lots of new inventory just coming on the market for the summer season, while August and September see peak prices for the year.
Watch the market trends: You’ve probably heard the term – Seller's Market... Buyers’ Market. Logically, the time to buy would be in a “Buyers’ Market” when a glut of properties on the market will keep the prices lower. That hasn’t happened for a decade and it’s not expected to happen soon.
Overall, the real estate market in BC is relatively stable. BCCREA is forecasting to have a very modest increase in sales this year of 2.4 percent over last year, a far cry from the record number of “unit” sales in 2005. The average MLS® residential sales price is forecast to rise a healthy 4.5 per cent this year, but that is mostly in the South Coast.
“Low mortgage interest rates, strong population growth and improving labour market conditions are underpinning housing demand in the province,” notes BCCREA, “However, weakening economic conditions in Alberta are limiting home sales in the Okanagan….”
A stable market, lowest annual prices, new inventory… March is great timing for real estate investors.
Let us show you the newest homes on the market!
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NEW LISTINGS IN THE
766 SINGH STREET $382,500