22 Jul Market notes: The Summer Housing Market is here!
Summer vacation has arrived for many! We are still hard at work :-), but accordingly the market is dragging a bit and there were very few listings this week. Looking at the sales, I am continuing to see strong pricing in condos and renovated houses. The market segment that is lagging is investment properties, detached houses, and homes that need a lot of work. This result co-insides with , investors/speculators being tentative, buyer’s being squeezed into condos, buyers waiting until the fall.
Because I am still seeing bidding wars on everything but the three housing segments I noted above, I am a bit bullish on finding that ‘stale’ listing this summer, snatching that premium listing quickly or catching a property that no one else is looking at. Will the buyers come back after vacation and look to scoop up deals this autumn? Downtown, that may be what many people are thinking.
-Nick Horton, July 21/2017