Market Minute - February 2020

February finds the Sunshine Coast still in a Buyers’ Market but there are indications that we will be moving towards a balanced situation before the end of the year. Sellers seem to have accepted the new reality with regard to pricing their homes to sell and there are less overpriced listings on the market.

February is a good month in which to list

Traditionally, February is a good time to list a property for sale and here are three reasons why February might be a good month to put your home on the market if you are considering it:

  • First, February is the kickoff to the busy spring market. In 2019, the average time a home stayed on the market was 91 days. This means that when you hear about a “busy spring market,” we’re talking about completed sales that were initially listed three months earlier.
  • Second, February’s cool weather separates real buyers from the “tire kickers”. When it’s overcast, rainy, and cold, only the most motivated buyers brave the elements to shop for a home. This is also the time of year that the people migrating from other parts of Canada start seeing our green golf courses and snow-free gardens as they fire up the snow blower after the latest dump. If you have your listing up with great photos, floor plan and a nice video walk-through there is a good chance you will be included when they fly out and want to look at their short-list.
  • Finally, many sellers believe it’s better to wait until mid-spring before listing their homes. This leads to less late-winter inventory which means less supply for buyers. Less inventory plus motivated buyers is an equation that adds up to good things for Sunshine Coast sellers that get a jump on listing.

Good time for businesses, too

If you own a business on the Sunshine Coast and are thinking about selling that, February is a good time to do it.

A lot of businesses are impacted by tourists and February is a good time to list as it affords the new owners time to capitalize on this and bank some cash for the slow season.

There is also an upswing in locals who commute acting on their long-standing dream of running their own business on the Coast at this time of year. The potential for more life balance and less time commuting can offset the fear of being one’s own boss. After a couple of months commuting in dark rain a potential entrepreneur is more willing to take the plunge.

The commercial listing system (CLS, where businesses are listed for sale) is not as “visible” to the general public as the MLS (where residential listings are shown to the public). It is therefore key to make sure you have a marketing campaign in place on social media with professional photos and video. Just like selling a home, presenting your business in its best possible light makes a big difference. 

Tony Browton -
Personal Real Estate Corporation
Re/Max City Realty (Gibsons)
Mobile: 604-418-2695
Phone: 604-886-2670
Fax: 604-439-2299
Toll Free: 1-800-986-2670