When it comes to selling your house in this market, things are still moving fairly quickly. You have to understand that it really depends on what your price point is, what demographic and what type of property you’re selling. You may have a home that is worth $900,000, don’t expect that to sell in 7-10 days because that is an area or price point that is a little bit more slower moving. You should be working with your real estate agents and they should be explaining to you what’s happening in your certain type of market. If you’re under the half a million-dollar mark in the Oshawa/Bowmanville area, you’re going to get a quite a bit of activity and it should sell fairly quickly. As a real estate agent we are going to be doing what we can to make sure that this sale is as seamless as possible, but I’m not forcing the traffic to come. The traffic is there because that’s what the market dictates, there is a lot of buyers out there for this price point.
On the flip side, if you have a home that is $900,000-$1,000,000 you’re not going to get a lot of activity and walk through traffic just because these segments of the market have slowed down drastically. You also have to keep a close eye on what’s happening with this property and the other two types of homes you are competing with. If there’s not a lot of activity and nothing else moving then you understand it’s slower moving segment and you shouldn’t do a price reduction right away. If you’re noticing that the other homes in the area that are your competition or newer homes are coming and they’re selling before you, that might be the market telling you that your property may be a little bit too overpriced because there’s other things with better value that are moving forward. It’s very important that you work closely with your real estate agent so they can explain this to you and give you an idea of what kind of market you’re dealing with. In Durham Region there are so many different pockets of activity taking place, you really have to get a good understanding of what’s happening in this type of property demographic before you understand how you’re going to price it, market it and how you’re going to approach it overall.
Like us on Facebook! https://www.facebook.com/SoldByJacob/