The market for seasonal residences seems to be regaining strength with dynamism. Should we be surprised by this renewed enthusiasm when we have just gone through an experience of confinement that is revealing for many? We believe that the coming months will once again demonstrate the appeal of our region. Maxime Pothier, agency manager at Century 21 Estrie, explains the impact of the real estate market on marketing.
A seller’s market
A seller’s market occurs when there are few properties for sale in comparison to the number of buyers. In this market, it is not uncommon to see multiple offers to purchase many properties. This is the perfect time to put your home on the market.
A buyer’s market
A buyer’s market is characterized by a larger number of property sellers than buyers. In this market, buyers have more time to shop for their home and can afford to negotiate the price more. It’s a market that favours buyers.
A Balanced Market
A market is in balance when buyers and sellers are on an equal footing. Generally speaking, a market is in balance when there are between 8 and 10 properties for sale for each buyer.
The Current Real Estate Market in the Eastern Townships
The current real estate market in the Eastern Townships is very dynamic. With the effects of the “reopening” of the economy and a relatively gradual decline in active listings, the market is favouring sellers. It is common to see multiple offers to purchase and, in exceptional circumstances, to obtain more than the asking price for one’s property. It’s not uncommon for a home to sell over the weekend! This is an excellent opportunity to put your property up for sale and obtain the best possible conditions for your property.