Market Outlook So Far

After a slow end to 2022 for the Real Estate Market, buyers are out again! It could be that we are in the spring market which is traditionally busy or that interest rate hikes have come to a stall for now or everything combined that is driving this activity.

Currently there are 70 properties listed for sale in Georgetown, 4 of those being condos. There have been 4 sales in the past week in town, two of those have been over the $1 Million mark.

We just listed a semi-detached property in Brampton. It is approx 1600 sq ft, needs some updating and has an unfinished basement. We are listed at $829,900 which is going rate for that type of home in the area and in less than 48 hours had over 30 showings. We ended up with an offer date due to the demand and had 8 offers.

I have also noticed that multiple offers have returned to the Orangeville market. There also seems to be a lack of inventory with just 33 homes listed. There were 2 sales last week.

The key factor in generating interest and activity for a property seems to be 1- listing at the right price. In my opinion, you are better to list just ever so slightly below market value, 2- having the property truly show at it’s best. Invest in the time and money to have the property staged and cleaned or work with a Realtor who will do this for you.

Buyers are picky and have definitely changed from the beginning of 2022 when there would be line ups for any property.

If you have been living in the same home for a number of years and are dreaming of retirement or moving further out, it could still be a good time to cash in your equity. Maybe move to something smaller or further out.

I have been meeting with many long term Brampton residents and the growth plan for certain areas in the next few years is incredible. Bramalea has several proposed high density buildings in the works. There is great demand for the area due to proximity to the Go station and the amount of amenities that it has to offer. It also helps that it is close to the airport. So if you’re tired of the hustle and bustle, it might be a good time to look at your options.

Please reach out if you have any questions.

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