My clients often ask me if it’s a good time to sell. In real estate, we say it’s always a good time to buy because a property’s value increases over time. What about selling ?
What I like to answer to my clients is: ‘Is it a good time for you?’
This always leads to deeply interesting discussions about their dreams, their lifestyle, their kids, etc. There are so many internal factors at play. Selling a property is more than a transaction; it’s a life transition. External factors like interest rates and market demand help to complete this analysis, but the answer is unique for each person.
Of course, the pandemic has stimulated a very active market over the last few years, characterized by a general price increase. In the Laurentians, new citizens chose to leave the city and embrace a new lifestyle made possible by telework. In 2023, the market is slowing down and there is pressure on prices. In this new normality, prices stabilize at a level which is still superior to prepandemic levels.
Right now, the real estate market is in observation mode. Both sellers and buyers are cautious. Here in Quebec, we often see this kind of mass movement where people follow major trends. As a trusted advisor, I encourage my clients to enter into an action/reaction mode, by making the best decision instead of waiting on the bench.
So are we still in a seller’s market ?
Yes. But the forces are rebalancing in favor of buyers. Over the last month in Mont Tremblant, we have counted two new listings for each closed sale, along with many price drops. This builds an interesting inventory for buyers waiting for the right opportunity.
From the sellers’ point of view, the market may seem slower. As the supply increases, properties with distinctive features stand out : lakeshores, golf courses, ski-in ski-out, etc. If your property is well located and listed at the right price, we’ll find the right buyer for you. Above all, we will make sure it is a good time for you, so that this important transaction contributes to your quality of life.
_____________________________________________________________________________________
If you’d like to discuss more about real estate opportunities, please reach out : michel.naud@evrealestate.com
