By Bryton Wilson - Century 21

Welcome to a Sellers Market – But What Does That Mean for You?

Jun 14, 2021 | 3:00 AM

Covid. I know, we have all heard enough of that word, so I promise that is the last time I’ll use it. These unprecedented times haven’t been all bad, there are all sorts of positives we can take from this past year. More time spent with those closest to us, an overwhelming awareness and support for local business and a real estate market that favours the seller.

Explanation time. There are three main types of markets in real estate lingo.

Sellers, Balanced, Buyers.

We currently find ourselves in a seller’s market, so let’s focus on that. If you are friends with or follow any real estate agents on social media, you will have heard/seen that now is the best time to sell. The reason for it is simple supply and demand. With low-interest rates (check out my fellow pro Kristi Sauter for mortgage tips), an increase in whole families spending more time at home, and a bunch of other reasons, there are a lot of active buyers looking to make a move. With so many of these active buyers (demand), there need to be homes for sale for those buyers to purchase (supply).

This spring and continuing into summer we are seeing record low homes available for sale, and more and more buyers coming forward looking for their next home. Sellers in all price ranges have been able to take advantage of the market, with an increase in multiple offer situations and full or over asking price offers!

WHAT'S ON

Here is what's on this weekend in Medicine Hat and area: Dec. 13-15

Dec 14, 2024

IN THE COMMUNITY

Medicine Hat's Mustard Seed adding new shelter spaces at Alberta government's request

Dec 12, 2024

HOLIDAYS

Medicine Hat Kiwanis hosting Christmas dinner, applications due Friday

Dec 12, 2024

Now, this isn’t guaranteeing any of this for you. Make sure your REALTOR® of choice is utilizing the proper marketing strategy and pricing your home in the range it needs to be to increase your chances of cashing in during this great time to sell! If you or anyone you know is interested in finding out more information, I’d love the opportunity to chat, reach out today for a free, no-obligation home valuation!