How to Buy & Sell in an Evolving Market

Updated: Nov 24, 2022

I am often asked, "should I buy or sell first?". I recently helped a client sell her condo and buy a new one, and I've shared her story with you below.

The easy answer to the question above, is that it depends. Many things need to be considered including: inventory, motivation to sell, market conditions, timeline, financing and more. One thing that we can all agree on is that in today's market, strategy matters. Whether you're a buyer or a seller, with vast differences among micro markets, now is the time when you really need an expert by your side.

Just Sold: Beautiful Waterfront Condo

When selling in a micro market with higher inventory levels, it's typically best to sell before purchasing your next property. Here is what made this sale a success:

1) Marketing - professional staging, photography, ad campaigns, 3D tour... the works! It's so important to stand out online, especially when there are lots of options!

2) Knowledge - before hitting the market we looked at building and neighbourhood stats, and were aware of competing listings and market trends

3) Price - we opted to list with a sharp price and hold back offers. At this price point, properly marketed units are still moving quickly. This strategy proved to be a success, and produced lots of interest!

4) Trust & Teamwork - my client trusted in the process, and did everything she could from cleaning, decluttering and living offsite during showings. This made a huge impact!

The results: 32 showings, 5 offers, and a firm sale in one week! 🎉