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Blog by Tanya Rankin

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Williams Lake Market Update May 15th

Here's what buyers AND sellers should be doing in this market:

Tanya Rankin: Hi it’s Tanya Rankin in Williams Lake. I wanted to do a quick little market update to help to talk people about what is going on here in the Williams Lake market. Yes the rumors are true everything you’ve heard about pricing is absolutely accurate we are in an extremely hot sellers market. Partially it's been driven by the lack of inventory or lack of supply or homes for buyers to choose from and there’s just more buyers than there are sellers which is driving the prices upward. We haven’t seen the prices this high in well over ten years and I don’t know if we ever have a kind of activity with buyers wanting to get into the market that were seeing this spring. Now when you’re in a market like this one of the things that is so important for sellers to remember is that a lot of the sales comparable data that we are using as agents is already obsolete by the time we’re able use it. So it’s almost prune to price a home higher than probably what the sales comparable data is indicating. In a up market it’s difficult to be a hundred percent accurate with sales data because those prices are already typically to three months old and I think for anyone who's buying into a market like this you want to be really cautious you want to rely on the expertise of someone you really trust who knows the market, understands the different variations that are happening out there right now because it’s really easy to feel pressured and feel like everything you call about you’re told it already has an accepted offer which a probably does but it still means you’ve got to make an informed decision versus just jumping in on the first opportunity you see simply because you’re afraid that you miss out on that opportunity and the prices will continue to rise. If you have any specific questions relating to what I’m talking about today please free to message me, email me or call me anytime and on that note have a fantastic week!