After many months of waiting on the market, nearly every house for sale in Queens Park sold in the month of April. Was it a fluke? Was it foreign investment? Is it a sign of another rapid increase?
It’s actually great news for stability. Houses in Queens Park and particularly those that sold recently fall into the luxury segment for New West (about $2M). The market for detached houses has been slowly improving since the beginning of 2018. Small gains week by week have created consumer confidence and pushed activity up the price band. Houses started selling at $1.2M then $1.4M followed by $1.6M and in April the buyers who sold between $1.4M and $1.6M had the funds to move up to the $2M house that they wanted.
Very aggressive markets from years past would have seen this entire progression happen in less than one month. We took three months this year to walk ourselves there. It’s a sign of stability. It’s a sign of consistency. It’s a great time to plan and to complete all your due diligence when making a purchase. You might even get away with an offer subject to sale!
Your options definitely depend on your goals, the home you’re in and the type of home you want to move to. An expert can help create a strategy to help you get there. You know I want to be that person to help you!
My recent video blog tells the same story…and you get to see me where a tie. Video below: