April numbers are out, and the spring market is finally starting to wake up across the GTA and here in Simcoe County.

Sales were actually UP in April compared to last year, while the number of new listings coming onto the market dropped. And that’s important because it tells us the market may slowly be tightening.

Now here’s the interesting part…

Even though more buyers are entering the market, prices are still lower than they were a year ago. In Simcoe County overall, the average price is down around 6% year over year. Buyers still have negotiating power. They still have choices and conditions within offers are the norm again. They can be more selective. Buyers, you have the time when searching for a house. Use it. 

But, that being said, if you have been looking for a house and haven’t seen anything that checks all your boxes then all of a sudden something comes along that makes your heart skip a beat, be ready to strike. Because if you love a house, there is a good chance that the next buyer through may love it too. 

But sellers with properly priced homes are absolutely still selling. The unrealistically priced listings are sitting. The good listings are moving.

Buyers still have leverage… But that could change in a heartbeat and the shoe would be on the other foot again.  We saw that in 2020-2021 when prices took off overnight. Things could be different six months from now.”

That combination doesn’t usually last forever.