For Home Sellers

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Found 81 blog entries about For Home Sellers.

In November sales prices punched through the roof when compared to the last 2 years. High sales values, combined with reduced inventory, means potential home sellers should consider entering the market now and anticipate an excellent outcome.

Sales Values

In November, average sales prices have been around $378,000 compared to $360,000 last year and around $382,000 in 2018. Prices have strengthened since March and we anticipate that they will remain higher for the balance of the year. Based on these numbers home prices are 5% UP on this time last year. 

Days on Market

Home buyers have been snapping up homes very quickly. Average days on market in November was only 55 days, compared to 70 days last year and 64 days in 2018.

Sales

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1.  Maximum audience

At the time of writing we are in the middle of the Covid 19 pandemic here in Edmonton. Most buyers are hesitant to view homes, especially seller occupied homes unless they really have to buy a home soon. If you offer a virtual tour, ALL home buyers can take a look around your listing from the comfort of their current home. In many cases buyers are demanding to see a tour BEFORE they will agree to and look at your home.

2.  Convenience

Many potential home buyers are time poor. Offering the chance to conveniently shop your home could be the difference between it making the short list and not making the shortlist. Give yourself an advantage. It also means that you can demonstrate your home to many buyers without the

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It would be natural to think that due to Covid 19, our market is flat & values are down. In fact, the opposite is true. We definitely saw a drop off in sales volume & sales values back in March & April when the Covid crisis hit us. However, since that time the market has just got stronger as each passing month goes by. I am confident that there is so much pent up demand, hundreds of home sellers will witness outstanding success & sell for full market value.

How busy will the market be? Based on last year’s market statistics, almost 1400 homes will sell across metro Edmonton between November 1st & December 31st 2020. Average days on market will be around 71 days. Average sales values will be around $380,000 UP on last years values. To read the very

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In October sales prices punched through the roof when compared to the last 2 years. High sales values, combined with reduced inventory, means potential home sellers should consider entering the market now and anticipate an excellent outcome.

Sales Values

So far this October, average sales prices have been around $382,000 compared to $365,000 last year and around $376,000 in 2018. Prices have strengthened since March and we anticipate that they will remain higher for the balance of the year. Based on these numbers home prices are 5% UP on this time last year. 

Days on Market

Home buyers have been snapping up homes very quickly. Average days on market so far in October is only 51 days, compared to 65 days last year and 58 days in

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So far in October sales prices are continuing to punch through the roof compared to the last 2 years. High sales values, combined with reduced inventory, means potential home sellers should consider entering the market now and anticipate an excellent outcome.

Sales Values

So far this October, average sales prices have been around $390,000 compared to $365,000 last year and around $376,000 in 2018. Prices have strengthened since March and we anticipate that they will remain higher for the balance of the year. Based on these numbers home prices are 7% UP on this time last year.

Days on Market

Home buyers have been snapping up homes more quickly than at any other time over the last 3 years. Average days on market so far in October is

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Will we see small armies of children roaming out streets in scary & fun costumes as they “trick & treat”? Or will Covid 19 concerns mean that children will stay at home? My expectation is that whilst we may see few children they will still be out.

From the perspective of real estate marketing i.e. selling your home it’s a great time to appeal to home buyers but you have to do it right.

In our market, i.e. metro Edmonton Alberta, many people just love Halloween. Perhaps it’s a family tradition? You put up those inflatable spiders, ghouls, or Frankenstein like monsters on your front lawn. You festoon your windows with “Witch” shaped stickers & some of your tricks make a loud noise.

It’s fun, isn’t it?

What if we told you that these most

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Are you trying to sell your home? Where are you in the pricing pond?

If we think of the market like a pond, when a listing is new, it flows into the pond from the left and moves across the surface of the pond. If the listing is positioned properly for the market and if the seller is realistic, the home will sell in short order and this case will ‘flow out’ of the pond to the right.

If your home is overpriced, it may still get showings, but they will slow down as the listing starts to sink into the middle of the pond. Your home is becoming overshadowed by more recent, more interesting and better priced homes flowing into the top layer above it.

Over time, (perhaps 75 days plus in our market) your home will sink into the ‘stagnant mass’.

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Highlands & Bellevue*

Jan to June 2019

Jan to June 2020

Change

 

 

 

 

# Homes Offered

75

62

-13

 

 

 

 

# Homes Sold

40

22

-18

Absorption Rate

53%

36%

-17%

 

 

 

 

Average Sold Prices

$368,362

$382,961

+4%

Days on Market

63

65

+ 2 days

 

 

 

 

 * Source Edmonton MLS® System Highlands & Bellevue – Single Family

Fewer homes were offered, & far

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is the market going up or down ambergate realty

Many homeowners in metro Edmonton are conflicted right now. Should they sell, or wait for a recovery in the market. We have not seen high prices since 2007 and Covid 19 has only complicated matters.

In general, I’m a ‘glass is half full’ kind of guy. I try to see the upside in all things including the housing market in metro Edmonton.

However. I’m starting to read some articles online that are suggesting homeowners and potential real estate sellers should be cautious.

For example, the following articles (click the links) are suggesting strong headwinds and depressed if not dropping values for years to come.

Please read them yourself and let me know what you think. You are welcome to leave a comment in the box below.

I read this article

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During the Covid 19 health crisis its especially important that you watch for the latest trends as our market reacts to the crisis. Each week we will publish a market report for each of the main metro Edmonton markets for your review.

Here is our report for the last 7 days. Week ending June 12th, 2020.

Community

# Homes Sold

Days on Market

Average Price Paid

Edmonton

230

56

$328,750

St Albert

25

40

$381,920

Sherwood Park

27

37

$383,500

 

For more details and specific information about the communities that interest you, please call the office at 780-760-2014 or email us

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