Summer 2015 took the Village by the Arboretum by storm, with house after house selling for premium values in minimal time. In fact, in the first 7 months of 2015, there were more transactions in the Village than all of 2014! This increase in available supply was met with a greater number of willing & motivated buyers, which reduced the number of days spent on the market (DOM) – meaning listings sold faster than we have seen in the past.
Whether this trend continues through the fall, remains to be seen. At present though, there are a number of properties- both homes & condos- on the market. This stock of listings could create an opportune buying scenario in the fall, as the number of buyers in the marketplace is usually smaller. As we saw in 2013, with the opening of the Arbour Trails retirement residences on-site, too many listings on the market can result in lower listing & sale prices- most commonly referred to as a “Buyers’ Market”. Since the summer of 2013, the Village by the Arboretum has steadily been considered a “Sellers’ Market”, with demand from retiring baby boomers outpacing the rate at which current owners have been prepared to sell.