First, what is a balanced market anyway? This is when the supply of residential properties matches the level of demand from buyers. The two other types of housing markets are buyers and sellers: the former is when an enormous volume of units exceeds prospective homeowners, while the latter is when supply is far outpaced by demand.

Indeed, homeowners easily sold their homes above the asking price for the last couple of years. However, the Canadian real estate market has changed, so selling these homes has become more challenging.

Here are five tips for selling your home in a balanced market:

#1 Set a Competitive Price

Because active or new residential listings are now keeping up with the number of buyers, it is crucial to establish a price that lines up with current conditions. In addition, real estate experts contend that buyers may be a bit more fastidious when the broader housing sector is calm. As a result, it is essential to price your home correctly based on what the neighbourhood is doing and what agents recommend.

#2 Home Inspector

Before listing your home on the market, it is critical to hire a contractor or a home inspector and determine if there is anything wrong with the property, be it something that needs to be repaired or replaced.

During the pandemic-era boom, many buyers had ditched the idea of hiring a home inspector since it might have lost them the single-family house, attached property, or townhome. Today, it is a bit different, and even minor repairs might deter buyers from submitting an offer.

#3 Clear Your Things

When interested parties arrive at your home, they want to envision what their stuff will look like in the living room, bedroom, or kitchen. They do not want clutter to distract them from where they would potentially install their things. Therefore, as a rule of thumb, sellers need to clear at least 50 per cent of their furnishings, decorations, or items from each room. The more space, the better an idea visitors will have of how they will look in the new home.

#4 Add Incentives

While you do not need to go overboard in trying to strike a deal, you may need to add modest incentives to attract buyers. This could consist of new appliances, or a new television. The little things can ensure the home is sold faster and without complications or headaches. This might not be necessary for some regions of the national housing market, but it may be imperative in a part of the country with little sales volumes.

#5 Wait and See

In the previous boom, it was almost guaranteed that the listing would sell over the asking prices. Today, everything has been turned upside down, so you will know how much of the actual selling price you will receive once an agreement has been made. This can be difficult if you are in the market for a new home since you do not know how much equity you will possess. Because of this, you may need to wait a while until you can determine what you can afford.

Or course, working with the Barnett Real Estate team we are able to help guide you through the process, regardless of the market conditions.

Spring is a great time to put a home on the market. Buyers are out in full force, and the average sale price tends to be higher—while the time it takes to sell is often shorter. Fortunately, there are steps you can take to make the most of these springtime conditions. It starts with preparations that make your property stand out in the crowd.

Here are five tips for making your home shine in the spring real estate market…

1) Bust the clutter

From rarely-used furniture to old clothing and magazines, clutter has a way of building up. Unfortunately, these items can make your home feel smaller—and prevent buyers from seeing its many possibilities. The good news is, by thoroughly decluttering, you can create the right canvas for staging.

First, start looking into local donation centres. Then, go through your belongings room by room, deciding what you’ll keep, donate, and toss out. You can rent a storage locker if need be, or use this as an opportunity to rid yourself of possessions you don’t use! (Here are some tips on decluttering to sell)

The market has changed! Here are some updates you might want to know about:

• How Will Rising Interest Rates Affect Buyers?
• Is Now A Good Time To Sell Your Investment Property?
• Everything You Need To Know About Buying A House In Milton

2) Clean every inch

Once your home is clutter-free, it’s time to make it sparkle—top to bottom. The truth is, buyers often look at every inch of a property before they seriously consider buying it. From the inside of your cabinets to the grout between your bathroom tiles, there’s a good chance it will all be scrutinized.

While you may choose to break out the broom, vacuum, and bleach, it’s best to also enlist help from the pros. The right full-service real estate team can connect you with reliable, professional cleaners.

3) Think about the outside

Your home’s exterior is the first thing a buyer will see before they step inside for a viewing. It can make a strong impression, so it makes sense to ensure it’s a positive one. That’s where curb appeal comes in.

From making sure your lawn is green and trimmed to touching up any chipped or faded trim, maximizing the appeal of the outside of your property is crucial. Remember that the little details also count, from fresh flowers to sleek porch light fixtures.

4) Freshen things up with paint

Once they step inside, one of the first things a buyer will likely notice is your walls. They form the backdrop of a room, and they look best when they’re freshly painted. This is especially true in spring, when the sunlight reflects off of interior surfaces.

Make sure you choose a high-quality formula—and the right colour. Warm neutrals tend to work best since they appeal to the largest pool of potential buyers. Studies show that the ideal hue can lead to a higher sale price, so be sure to consult with your agent and any staging or professionals they recommend.

5) Add some decorative touches

Spring is a time of renewal. To make the most of any positive feelings it evokes, why not bring the season inside? The best way to do that is with furniture and decor that makes your home feel big, bright, and airy.

Tasteful spring colours, light fabrics, and vibrant plants are the name of the game. A talented stager can determine which aesthetic decisions will have the best overall impact.

Spring market may be the ideal time to list, but that doesn’t mean you should forgo preparations. After all, making your home shine is one of the keys to securing fantastic results. Are you ready to take the first step?