A seller’s market comes into play when there are more buyers than properties available. A simple case of supply and demand where there is a lack of inventory.
Presently Chestermere is experiencing a seller’s market.
When navigating a seller’s market buyers need to be ready to see houses right away and even be prepared to write an offer on the spot. If you like it, put in an offer – it may be gone quickly
Although Chestermere is not seeing as many competing offer situations as Calgary, we still do have some. Be prepared to write your best offer when you are in a competing offer situation. Your real estate professional will be able to guide you through this process.
One of your first steps as a buyer is to be qualified for your mortgage amount before you go house hunting! Such an important step, so reach out to your mortgage broker or bank to see where you stand. This will avoid disappointment in the long run for all parties involved.
Because it is a seller’s market in Chestermere right now, homes will most likely go closer to list price than far below list price like we see in a buyer’s market so make sure you are looking in your price range to avoid any disappointment.
And that is a Minute with Michelle for this time!