Every Tuesday, Melody Wilson, Edmonton Remax Elite Realtor goes LIVE across all social media platforms.
This week she chats “What is Spring Market?”
Watch below, or read on for all Edmonton real estate spring market news!
Have you heard the hype about spring market?
If you follow any realtors on your social media feed, you will see realtors talking about spring market. Sometimes you’ll hear them talking about it in the fall or summer, or winter, saying it’s like spring market out there. What does that mean?
So easily put spring market has a lot to do with how busy things are. In the real estate market, when buyers are out and they’re buying properties and they’re putting offers on properties, and there’s listings that are coming out and listings that are selling and moving, that is spring market. In the most simple terms.
Basically, it’s a busy market and things are happening. And that’s exciting for all of us who are in real estate because it’s kind of like christmas when you’re in retail, kind of like rrsp season, if you’re at the bank, that’s what it is for us. It’s like we’re a kid in a candy store.
Buyers – it’s getting warm outside. The buyers are thinking about “oh, we need to move. ” So they want to think about talking to a realtor (like me!) and talking the mortgage broker to see what they can do to find a place and move before summer.
Usually when you buy a home, let’s say we start looking today, we can easily get you in in a month. But we can also get you in a couple months, which is then right after school. People want to move at the beginning of summer so that they can still enjoy the summer and go on holidays or get settled in before school.
So this is an absolute prime time.
A lot of sellers have been waiting for winter to be finished, which we all know in Edmonton, winter is going to be here for a while technically, because we always get those false start springs. But that does not affect the market. As soon as it gets warm, people realize, ok, it’s time to put their house on the market.
If you want to put your house on the market and there’s still snow, obviously that’s going to be just part of selling your house at the spring time. But eventually (that’s why in may) we usually have the majority of snow all gone and it gets really heated. The houses just show at their best because there’s no snow around. Things are starting to green up and it is prime time because now the buyers that have been sitting around waiting, hoping to see what they’re going to see for spring, realized oh they better move now if they want to move in June.
We have lots of buyers coming. People are calling us out of town. People are coming and moving over to Edmonton, which is a good sign for economy because it means people are moving here, which means there’s jobs! I would love to help anybody who you can think of that is looking to move in Edmonton.
There are a lot of people relocating from across provinces and I usually help out with this. I do have one family we’re helping who’s coming from the states.
But a lot of people are moving across provinces, so if you’re thinking of moving within the city, if you have a place and you’re thinking maybe it’s time to sell, maybe it’s time to have a good chat and see if your home has any equity.
The market has been declining for the last five years, and so a lot of equity has not been gained by most homeowners to their surprise, so we have to figure out different solutions.
This week, I’ll be filming some videos with Kris Crawford, one of the mortgage brokers, to discuss what are some things that we can do if you have no equity in your current home, but you need to move.
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What are some options? So we will be talking about that. If you have questions about that, questions about buying in the spring, and questions about selling in the spring. Let me know. When you’re working with homeowners in the springtime, you’ve gotta be prepared to show lots and also in the buyer world, you’ve got to be prepared that there’s more people looking for homes, and so you may be competing with some people, it all depends on what’s going on and what property you’re looking at. So, like always, there is lots of inventory, but not always the proper price for what you’re looking for.
Thanks for reading or tuning in, and I hope you have a good spring day today and we’ll talk to you guys soon. Bye!
Want to get in touch with Melody Wilson? You can reach her at firstname.lastname@example.org or 780-945-7821