How to "Beat" the Real Estate Market When Inventory Is High
When there are thousands of homes for sale across Niagara, what does that mean if you’re buying or selling? Joe Gonzalez breaks it down, and shares how to come out ahead.
What high inventory looks like
At one point, the Niagara region had over 2,500 homes for sale, more than five times what the market had seen in years. And it wasn’t just Niagara. Inventory was rising across Ontario.
With all those listings, headlines start saying “the sky is falling.” But the reality was more balanced. Prices were a little lower, but homes were still selling at around 97% of list price. Sellers weren’t giving homes away.
What it means for buyers
High inventory is good news for buyers:
- More options than you’ve had in years
- Room to negotiate a lower price
- Conditions are back. You can usually include a home inspection and financing condition to protect yourself.
Tip: View as many homes matching your criteria as you can, even across a wider area, so you have a real basis for comparison.
What it means for sellers
More listings means more competition. To stand out:
- Price based on current sales, not past peaks
- Make your home show at its best
- Market it well so buyers notice it among all the others
Bigger deposits in riskier markets
When there’s more uncertainty, sellers want more security. Joe negotiated a large deposit on one of his listings, so large that his sellers ended up being owed money back at closing. Strong deposits help protect sellers when markets are shifting.
How to beat the market
Joe’s answer is simple: get an experienced, full-time REALTOR® to represent you. In volatile times, experience and market knowledge are what give you the edge.
Call 289-276-1716 or contact us.
