VIREB President Margo Hoffman notes that limited inventory is the biggest challenge for REALTORS® and home buyers in the VIREB area. Our housing market is now in seller’s territory, primarily caused by inventory levels that steadily declined month over month in 2015.
“Inventory has been decreasing for over a year now, and in most markets, there are more buyers than sellers,” says Hoffman. “If you’ve been waiting for an opportune time to put your home on the market, now would be an excellent time to sell.”
Despite current market conditions, however, pricing your home appropriately for your neighbourhood is still a vital aspect of the sales process.
“The fact is that overpriced homes take longer to sell no matter how busy the market is,” says Hoffman. “A REALTOR® can help you set a fair price to ensure the best chance of a sale.”