We have hit peak pricing for detached homes so how do you know if you should cash out and sell? Should you wait and see if the market continues to climb or take advantage of the market right now? James sheds some light on the market and advice on how your situation can answer this question.
Condo & Townhome owners: While the market has been favorable to attached dwelling sellers we haven’t seen the dramatic rise that we’ve seen with detached homes. That being said if you want to sell do it early before the summer market hits so you will have a better chance of your property standing out.
House owners: If you can comfortably buy without selling wait until that perfect property pops up and once you have that locked down put your home on the market to take advantage of a seamless possession and move. If you don’t feel comfortable buying without selling then sell before the end of spring for peak market response.
Investment property owners: You have to ask yourself a couple questions… Are you a Landlord and do you enjoy it? If not sell now. This also applies to properties that houses that might normally be a little more difficult to sell due to environment (busy street etc…) or the physical home features (out of date, unusual layout, etc…)
However the trend is that the detached housing market will continue to rise so if you can wait take your time.
As always if you have questions don’t hesitate to contact us!