Blog

RSS

Know the Local Market when You Sell

Know the Local Market when You Sell

Are you thinking of selling your home this year? If so, you might be paying extra attention to housing market news covered by the regional and national media.

While that news can be helpful information, it can sometimes say little about what’s happening in your particular neighbourhood. In fact, it’s possible for there to be a balanced market nationally or regionally, while at the same time your street may be experiencing a hot seller’s market!

That’s why it’s important to understand what’s happening in your local “micro” housing market when you’re selling your home.

What do you need to know about your local real estate scene? Here are a few questions to ask yourself:

  • Is our neighbourhood a seller’s, buyer’s, or balanced market right now?
  • If we list our home this month, will there be any competing listings in our area? If so, how many?
  • How long is the average listing in our area taking to sell? A week? A month?
  • How much are properties like ours in the neighbourhood selling for?
  • How desirable is our neighbourhood? How many buyers are actively looking to move here? Are there currently buyers eager to purchase a home like ours?
  • What are the demographics of buyers looking to buy in our neighbourhood?
  • How important is it to fix up and stage my home if I decide to sell?

Getting these local insights will be far more helpful than the national news when you put your property on the market. So, find out what’s happening right here, in your neighbourhood.

How do you do that? Call me today.

Comments:

No comments

Post Your Comment:

* indicates required fields.
Your Name: *
Your email will not be published
Your Email: *
Comment: *
Please type the text as it appears above:
Reciprocity Logo The data relating to real estate on this website comes in part from the MLS® Reciprocity program of either the Greater Vancouver REALTORS® (GVR), the Fraser Valley Real Estate Board (FVREB) or the Chilliwack and District Real Estate Board (CADREB). Real estate listings held by participating real estate firms are marked with the MLS® logo and detailed information about the listing includes the name of the listing agent. This representation is based in whole or part on data generated by either the GVR, the FVREB or the CADREB which assumes no responsibility for its accuracy. The materials contained on this page may not be reproduced without the express written consent of either the GVR, the FVREB or the CADREB.