Understanding the Impact of March Break on Milton Real Estate
From Monday, March 11, to Friday, March 15, was March Break, which means the schools were closed, and many people headed South for vacation. But what does this seasonal phenomenon signalling the start of spring mean for the Milton real estate market? Keep reading to learn how Spring Break influences property values and real estate markets.
Although every year is different, especially over the last several, March break typically means a slowdown in the real estate market, and the weeks after usually see an influx of inventory. If you caught our podcast on Monday, March 11th, hopefully, you were in a position to act quickly and take advantage of the blip in the market that occasionally flips to favour buyers, but if not, fear not; more options are around the corner, hopefully.
When is the best time to sell real estate?
While spring is generally considered the best time to be a seller, it’s always a good time to sell your home. If you need to move, don’t try to time the market. January and February can be a great time to put your house up for sale because there’s usually less inventory and “Spring Buyers” often enter the market early, creating more demand on less inventory.
Real Estate Activity in Halton, Peel and Surrounding Areas
Over the last week or so, we have seen an increase in multiple offers and buyer confidence in the Halton and Peel Region. Combine that with another rate hold by the BOC (Bank of Canada), and all signs point towards a stronger 2024 real estate market than we originally forecasted.
We anticipate this March will follow historical norms, and the phone calls we’ve been getting from homeowners looking to sell would support that, with our prediction that there will be an influx in inventory toward the end of March and leading into April. The question is, will the buyers be there to support it? We think so.
Planning to Sell Your House in Milton and Surrounding Areas
For those of you planning a move in the Spring, the swift market change may alter your thoughts on whether to buy or sell first. It’s also very important to ensure you’ve got everything aligned by being proactive and completing staging consultations early, getting solid mortgage pre-approvals, completing any work at home that’s required to list for sale, and getting your deposit readily available.
We wish you well in your real estate endeavours and encourage you to contact us if you require assistance buying, selling, leasing, or investing or if you simply have a quick question.
