How to Handle a Volatile Real Estate Market
What’s the state of the Niagara real estate market? At times, the honest answer has been volatile. But the more useful question is: how do you handle a volatile market?
How volatile has it been?
The Niagara market peaked in February 2022. Over the following year, prices came down quickly, by roughly 30%. After that came a partial recovery, but with prices going up and down along the way.
That kind of swing makes buyers and sellers nervous. Should you wait? Should you rush? What if prices drop more, or jump back up?
Joe’s best tip: focus on yourself, not the market
Many of the things that drive the market up and down are completely outside your control: interest rates, inflation, the economy, headlines.
Instead, focus on what you can control:
- What’s most important to you? More space, a shorter commute, downsizing, being near family?
- When is the right time for you? A new job, a growing family, retirement or a lifestyle change?
If now is the time for you, don’t wait for the market to go up or down. Do what’s most important for you, at the time it needs to happen.
Why waiting rarely pays off
Trying to wait out volatility often means:
- Putting your life on hold
- Missing homes that would have been right for you
- Finding the market moved in the opposite direction from what you expected
Protect yourself in a shifting market
- Get a home inspection so you know what you’re buying
- Price your home on current data, not past highs
- Work with an experienced full-time REALTOR® who watches the market daily
Thinking about making a move?
We’ll help you decide what makes sense for you, whatever the market is doing.
Call 289-276-1716 or contact us.
