March 24, 2021 — Rosemary King, Shannon & King Broker of Record announces that after many successful years representing buyers and sellers, Bob Shannon is retiring and moving to making everyday a Saturday.
Rosemary wishes Bob a happy retirement and expects he will be busy with new challenges. Good Luck Bob!
SPRING MARKET 2021
Well, there are many ways to describe the market but I refer to it as the “Double Bubble Sellers Market”. What does that mean? Moving from 2017 when prices were on the upswing and an already aggressive Seller’s market in place, (first bubble) into the beginning of March 2020 and the pandemic (the second bubble) has made buying a property almost impossible for first time buyers and have made buyers with unlimited funds the recipients of multiple offer situations with listing prices becoming a only a starting point.
Our Real Estate Board stats confirms this with the average days on the market of 8 days and the list to sales ratio hovering over the 100% mark. So, it’s a great time to sell your property with value increases in the double digits. But where are you going is the question Sellers are asking themselves. Inventory is low as Sellers stay put and buyers from the GTA leaving for better surroundings and lifestyle, where they can work from home and raise their family at a much slower pace is not going to end anytime soon.
Listening to all the industry experts, this is going to continue for the foreseeable future. Representing buyers and sellers and making sure that they are well informed of what can happen in this Sellers market and are prepared for multiple offer situations is essential, so having an experienced, knowledgeable and local realtor is a must.
Call Rosemary to discuss your options and Happy Spring!