As written here previously and backed up by data, the market took a breather from approximately August 2015 until Easter 2016. Agents were tracking me down to ask if my clients were going to be making an offer, 'They seemed to love it, asked a lot of questions'. Just for the record, that usually is a clients polite way of saying I don't care for this property. When a buyer actually does love a space, it's poker face time! (As told to me my dozens of clients!)
So what happened? I have no idea, however days after Easter my phone and email both went a bit nuts! Both with new clients as well as previous clients that were back on the prowl. To date we have signed 14 or 15 contracts since that time, have a few accepted offers that are days from signing and continue to be busy with current, active clients.
The market is far from what we experienced in 2014, however well priced homes in prime/good locations are attracting multiple bids above ask (in most cases). What we really have is a healthy, liquid market. But if you're a seller, don't get greedy, buyers aren't dummies and your agent isn't a magician. Price a home correctly and the marketplace will take care of the rest. Brokers and agents are more akin to conductors, certainly an important function to the process. However they are not playing the music, just orchestrating it.
The past few months we witnessed a great release of energy. Will it continue? I think so, though a bit muted. I'm sensing a wee bit of cooling in our little world, time will tell.
The Burkhardt Group