Sunday, October 24, 2010

It Could Still Be The Price

I just completed a quick statistic check on properties that sold in the last 30 days.

Quick Stats  Sept 24- Oct 24, 2010
Residential Sales in Grey Highlands and West Grey:  
20 Sales      19 Single Family    1 Vacant land
Avg Sale Price    $ 206,600            Avg List to Sale Price    94.2 % 
Sales under $150,000:  7        Over $200,000:  6
$ 150,001 - $200,000:  3        Over $300,000:  4
In addition, 4 Farms Sales, Price range from $250,000 - $380,000    Avg List to Sale Price  93%  E&OE

There are still 48+ Active residential listings available ranging from $37,500 for a vacant lot to well over $500,000 for home properties.  Could it have been that the well priced properties have sold , and the ones still available should be looking at their adjusting the asking price ?

Several of these sold homes had more than one price reduction or agent and many exceeded 100 days on the market, which isn't uncommon here.  I also saw a couple of sales within a few weeks.  Granted they where priced under 180,000, where we see the majority of sales in Southern Grey, but they were aggressively priced for quick sale.  *Note, the terms agressively priced, well priced, competatively priced does not mean cheap or that seller is giving property away.  It means reasonable value for the property given it's amenities, condition, location etc...

If you are ready to sell your home and begin making a new one, strip yourselves of any emotional attachment and rely on compareable sales and your Real Estate Representative for their knowledge and expertise.  After all, that is really why you chose them.

Sales Representative
Royal LePage RCR Realty, Brokerage

No comments:

Post a Comment