Transcript:
Hi there guys, just over two weeks back where we were seeing majority of the homes in Milton selling in multiple offers and way over list price, now we are seeing homes sitting on the market with minimal number of showings and hardly any offers. We did expect for the prices not to continue to go up at the same pace as what we had seen few months back, but with spring around the corner, the expectation was for the prices to continue to stay stable and homes to sell at a good pace. I don’t think anyone can really pinpoint to what has brought about this sudden change. But few factors that come to mind are buyer fatigue, increasing inventory levels and increasing mortgage interest rates, and to a certain degree the economic impacts of the war in Ukraine. My advice to you as a seller would be to price your home realistically, taking into account the current market conditions and also not to buy a home without having sold your current one. For a buyer, this might be a good opportunity finally for you to not get outbid in multiple offers and also not pay exuberant amounts of money over the list price. You take care and talk soon.