How to Make your Home Sale “Smooth Sailing”

When you plan to take a journey somewhere, you hope it will be smooth sailing all the way. That simply means the trip will be relatively trouble-free, and without stress or hassles.

Well, selling your property is like a journey. So, how do you ensure that adventure will be “smooth sailing” for you?

While no one can guarantee there won’t be a challenge or two to overcome on the road to selling your home, there are proven ways to help ensure everything goes well.

First of all, preparation goes a long way toward having a successful sale. Start early. Make a list of what you need to do around your property to get it ready for buyers. That list will include cleaning and tidying, of course. But, you might also need to get some minor repairs done, and perhaps even a few upgrades (such as painting or a new kitchen sink.)

Don’t wait until the last minute if you’ll need a contractor to do those repairs or upgrades. Find and book a professional now.

Second, take the time to fully understand the selling process and what to expect. Don’t be shy about asking questions. For example, if it’s been a while since you last sold a home, you might need to refresh your understanding of how scheduling works for viewings, what staging is all about, how offers are received and considered, etc.

The better you understand the selling process, the more comfortable you’ll feel.

Thirdly, and most importantly, give me a call early in the process. I can offer the advice and help you need to sell your property quickly and for the best price. I can also make your selling adventure go smoothly and successfully.

In other words, if you want “smooth sailing”, call me!


Spring is traditionally the busiest real estate season, but early on Victoria’s market sees a change in tempo

A total of 824 properties sold in the Victoria Real Estate Board region this April, 26.2 per cent fewer than the 1,116 properties sold in April 2021 and a 1.1 per cent decrease from March 2022. Sales of condominiums were down 20.8 per cent from April 2021 with 262 units sold. Sales of single family homes decreased 28.5 per cent from April 2021 with 403 sold.

"The past month concluded with notably lower sales when compared to April of last year,” said 2022 Victoria Real Estate Board President Karen Dinnie-Smyth. “This tells an interesting story because activity traditionally peaks over the course of the spring, and this year we have seen a gradual softening of the market. As we have reported many times in the past years, the market hinges on supply and demand. Rising interest rates and inflationary pressures on top of higher prices throughout the region have combined to introduce new market dynamics because of waning demand that consumers and their REALTORS® are now navigating. Our inventory levels remain well below historic averages, so prices remain buoyant because the supply is still much lower than this recent decrease in demand.”

There were 1,365 active listings for sale on the Victoria Real Estate Board Multiple Listing Service® at the end of April 2022, an increase of 28.4 per cent compared to the previous month of March but a 6.1per cent decrease from the 1,454 active listings for sale at the end of April 2021.

"The market has made a pivot compared to the spring of 2021," adds President Dinnie-Smyth. “However, we continue to see competition for lower priced homes and multiple offers are still very much a reality in our market and likely will be for some time. We are currently experiencing a lessening of demand, but that does not mean we can lose sight of the fact that our housing market needs more supply. We must continue to encourage the government and stakeholders to focus on building more homes and not on creating new rules such as a cooling-off period that have nothing to do with getting more people into homes and risk upward pressure on pricing. The market will continue to have corrections, both up and down, and government interventions must target more new doors for the long-term health of our housing market."

The Multiple Listing Service® Home Price Index benchmark value for a single family home in the Victoria Core in April 2021 was $997,500. The benchmark value for the same home in April 2022 increased by 26.9 per cent to $1,266,200, up from March's value of $1,233,700. The MLS® HPI benchmark value for a condominium in the Victoria Core area in April 2021 was $513,100 while the benchmark value for the same condominium in April 2022 increased by 26.7 per cent to $650,200, up from the March value of $635,100.

MLS® property information is provided under copyright© by the Vancouver Island Real Estate Board and Victoria Real Estate Board. The information is from sources deemed reliable, but should not be relied upon without independent verification.