In like a lion, out like a lamb. March is over and spring has sprung.
They say “Spring is nature’s way of saying let’s party!” Well, it’s also the onset of the typical ‘real estate season’ and March’s real estate numbers are showing all the signs of spring.
Most homeowners and home buyers show interest in the monthly real estate numbers. After all, they provide a great overview of what’s happening in the current real estate market.
We love looking at the numbers, too. As professionals, we go a few layers deep so we have an in-depth knowledge of the current ‘state of the nation’. We compare season to season, year to year, and love to go five years back. Why? Real estate can be cyclical and five years is the typical mortgage cycle which means some homeowners start to think more about the price/value/investment of their current property.
We also spend time looking at what’s happening in individual neighbourhoods. After all, activity from neighbourhood to neighbourhood can be very different and our buyers and sellers want to know what’s happening where they live or want to live.
Want more info? Watch what Darcy has to say about March’s numbers, five years ago, and as he looks specifically into a neighbourhood. We also break down stats by neighbourhood here.