Real Estate Talk:
The Holiday market
This year’s Holiday season will be an ideal time to sell
By Joseph Marovitch
Before the pandemic, the market during the holidays, mid-December to the beginning of January, was a quiet time. There were a few properties for sale, but usually, a very small audience since many potential buyers would travel outside the country, to the Laurentians or the Townships.
Today, travel is restricted, and it is recommended to remain in our own zones. With the pandemic and zones in the red, there are no bars, theatres or restaurants. Therefore, there is an audience. Safety protocols must be followed to safely research and visit properties and this can be done. Therefore, I would say it is worthwhile if considering selling a property, to do so during the holidays. People have time on their hands, little to do and nowhere to go.
Sellers can offer the holiday experience to buyers by creating a festive theme in the house with soft music, the aroma of fresh-baked cookies and rolls, lights and a twinkle in the eye since masks prevent a smile from showing. Granted, visitors must wear masks, disinfect their hands and touch as little as possible as they enter one at a time with the broker while the residents vacate the property.
If the buyers determine the property is for them, the experience becomes unforgettable. The gift the seller has provided the buyer is excitement, wonder and anticipation in a time when the only feeling many receive is the relief that they made it from the grocery store to the house without getting sick or running into grumpy people.
… I would say it is worthwhile if considering selling a property, to do so during the holidays. People have time on their hands, little to do and nowhere to go.
Brokers would be thrilled to provide service during the holidays. The market has been busy with buyers purchasing what there is for sale but acquiring new properties to sell is tasking. Many potential sellers are not aware of the protocols to safely sell their property and are therefore reluctant to place their property on the market.
There is demand but not enough supply, therefore we are in a sellers’ market. The market just needs inventory to sell. The opportunity to sell one’s property at market price or higher is now when inventory and interest rates are low and demand is stable.
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State of the market
According to the Quebec Professional Association of Real Estate Brokers (APCIQ), sales on the island of Montreal remain strong while new listings have significantly decreased, which is to say, buyers are buying what is available but there is not an abundant amount of new property for sale. With low-interest rates and few new listings, we are in a continued seller’s market. Buyers are not fooling around. The pandemic makes time and exposure an issue, therefore negotiations are competitive and quick.
‘With low-interest rates and few new listings, we are in a continued seller’s market.’
There is the possibility that demand may grow further with the current U.S. elections. Depending on who wins, we may have an influx of Americans moving north.
Have a great week, stay safe!
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Joseph Marovitch has worked in the service industry for over 30 years. His first career was working with families from Westmount and surrounding areas, hosting children between the ages of 6 to 16 as the owner and director of Camp Maromac, a sports and arts sleep away summer camp established in 1968. Using the same strengths caring for the families, such as reliability, integrity, honesty and a deep sense of protecting the interests of those he is responsible for, Joseph applies this to his present real estate broker career. Should you have questions please feel free to contact Joseph Marovitch at 514 825-8771, or firstname.lastname@example.org