If you're looking to buy or sell a single-family home in Tsawwassen, it's always important to have the most up-to-date information about the market and how market trends could affect your purchase or property. That's why we at the Payne Real Estate Group are committed to keeping you informed with the latest market information and analysis.
December of 2012 was a somewhat slow month for home sales in Tsawwassen. Both the overall number of homes on the market and the number of homes bought in the last month were lower than previous months. The overall sales ratio for Tsawwassen single-family homes is just 4% - of the 77 homes on the market in Tsawwassen, only three were sold last month. This puts the area firmly into a buyer's market situation, and those looking to purchase certainly have their options open.
However, that doesn't mean that this is a bad time to list your property if you're looking to sell. The overall number of homes on the market is very low, and sales are unlikely to stay so slow for long. By listing now, your property will be up against less competition in any price bracket, and as sales pick up more buyers will be considering your property. Wait too long, and the number of homes on the market could swell considerably and crowd you out.
Though there were few sales last month, it does appear that larger homes are selling better than smaller ones. All the homes sold in Tsawwassen last month were either 3-4 or 5-6 bedrooms, so if you have a little bungalow or beach cottage it might be wise to hang on to it until warmer weather blows in and people start longing for the beach again. If you have a bigger home, though, or one closer to the waterfront – such as in Beach Grove or English Bluff – now could be a good time to sell.
As for buyers, competition was slow last month, so don't be afraid to bargain hard or hunt around. The average sale price in December was 4% below list, meaning that those looking to acquire a property can push for a better deal without worrying too much about losing out to someone else. This could be a very wise time to take the plunge and make a move on that home you've been considering – especially if that home is in the $600,000 - $800,000 range, where the inventory is highest.
Overall, there are positive points for both buyers and sellers in the market data for Tsawwassen. But the crucial thing to remember is that, while December may have been slow for sales, it's unlikely to stay that way for long. Sellers shouldn't be afraid to list now, and buyers should make a move before the market picks up and competition gets stiffer.
If you have questions or concerns about singe-family homes in Tsawwassen, contact us at the Payne Real Estate group for more information. Or, simply take a look at the many beautiful Tsawwassen single-family homes for sale and find something that you love.
If you are thinking of selling your home in Tsawwassen check out my Sellers guarantee or go here to see what your Tsawwassen home is worth.
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