Just because a home is on the market doesn’t mean that it is in the market. At all times the real estate market is made up of two markets. Okay, you are probably wondering what I’m getting at here… Well, there are those homes that are for sale that are in the market and those that are out of the market. Those in the market are getting a lot of showings and in many cases multiple offers. Those homes priced out of the market (ie. last year’s pricing) are not receiving showings or the showings are tailing off quickly. The 80/20 rule is seen in this case. In a buyer’s market (what Toronto Real Estate is in currently) 20% of the homes are in the market, 80% are out. The questions becomes which housing market do you want to be in as a seller? It is integral to price your home in the market so as to get the most amount of money and to actually sell your property. And hey, if you are buying back into the market then you aren’t losing out. In fact, if you are moving up you are saving money!
It is essential to know what the market is doing and price accordingly. As a marketing listing agent I pride myself on this knowledge. I would be happy to discuss the benefits of pricing your house for today’s market conditions click here to contact me.