We often use March Break as our ‘before & after’ of the Spring real estate season. John and I tell people that if they want to sell, why wait until after March Break? Generally, after March Break is when everyone else decides it’s time to sell and that leads to higher inventory. That’s great for the BUYER, but not for the SELLER. If it’s the end of the year and you’re thinking about selling your home, we would encourage you to get it on the market in January or February because there is greater demand and potential to get a great price. Now that we are in the ‘after’ March Break period, John Weber has some interesting stats for you!As you know, I pull up a week’s worth of stats to prepare these market update posts. For the past couple of months we’ve seen more and more listings coming onto the market, and record high sales numbers and sale prices. I’ve been reporting the numbers, but not the prices. Over the past couple of months, we’ve seen at least one home sell for $100,000 OVER LIST each and every week. In this current 7 day period, a home in Innisfil sold for a little more than $220, 000 OVER LIST price!
I’ve started to hear ads from REALTORS claiming that they will sell your home for more than the average agent, and that’s a tricky claim to make. We all agree that this is a crazy, unpredictable market right now. As a result of the record breaking sales in the past few months, there is an expectation that when a home owner lists their home for sale, they can expect to get $50,000, $100,000 or $150,000 higher than their asking price and that there will be 10 or 20 competing offers. As Sales Representatives and Brokers, it’s hard to not get caught up in all the excitement and fuel that expected outcome. It’s even harder to sit at the kitchen table of a home owner and explain to them why we have only one offer to review, or worse still, why we don’t have any offers to review. How is that possible you might ask? That’s the million dollar real estate question!
Check out our numbers for the past seven (7) days, as noted by the Barrie & District Association of REALTORS posted as of 9:00am on March 23rd, 2017.
197 New Listings
118 Firm deals
32 Conditional sales accepted/Listings Withdrawn
And of those SOLD listings, 69 sold for OVER list price!
Just for curiosity, I had a look at how many homes are listing FOR SALE right now in Barrie, Essa, Innisfil, Springwater and Oro-Medonte. There are 324 active listings at this moment.
We’d love to have your feedback, comments or questions. Feel free to contact any of us on the Weber Team!
You can reach:
Christie Bond, Broker, at Christie@WeberTeam.ca or by cell at 705-220-1152
Kelli Gastis, Sales Representative, at Kelli@WeberTeam.ca or by cell at 905-251-2651