Market Update - September 2010: Buyer's Market?
Ben Schmidt of www.benschmidt.tv a Fredericton NB and Oromocto NB Real Estate Agent video blogs about September 2010 Market Update
This past september our sales actually rose, very slightly, compared to last year. We sold 77 compared to last September's 74, so basically even from last year. But year to date our sales are still down about 47 compared to last year, about 5.18%.
Our listings are continuing to trend upwards. We listed 17 more homes than last year in September, and 115 more year to date.
If taking these numbers you can see we have about 160 more homes on the marketplace than we did this time last year. Which would be about a 20-22% increase in inventory.
This news isn't the best if you are currently trying to sell your home. Increased competition, a drop in the amount of buyers, and the Winter season upon us, means you may need to do something to get your home sold. A potential price reduction, extra inclusions, or sprucing up the house.
If you're a buyer you should absolutely be in this market. The combination of increased listings, and reduced buyers is a perfect combination to make sure the home you want is out there. That combined with motivated sellers and phenomenal interest rates, means a great deal is out there to be found.
If you have any questions for a Realtor give me an email at ben.schmidt@me.com