2010 has been a strange year. People I have been talking to both in and out of the real estate industry know its slow. Most houses do not sell. A lot are cancelled or expire. So far this year we have had 655 sales in Red Deer with 1584 homes listed. Thats 41% of homes listed have sold.
BUT its not all bad. There are houses selling - 655 this year so far. On average we have 4.17 sales per day. Why are they selling. When I go to a meeting with prospective sellers I tell them all the same thing, your home will sell because of 2 reasons - 1. Price 2. Marketing. Price is the main one. If your home is over priced by even a little prospective buyers will overlook it. The market is that volatile right now with so many listings buyers do not have to negotiate. A well priced listing will sell before an overpriced listing. So far in June we have had 28 sales for an average of 4.66 per day. With our current market of 717 listings it would take 153 days to sell every house on the market. The only problem is we have been getting an average of 9-10 new listings every day. Simple math says if there is 4.66 houses selling with 10 new listings every day most will not sell.
BUT again not all is bad. There are houses selling - 655 this year and 28 so far in June.
My opinion is look at your price.
How conpetitive are you?
What has sold in my neighborhood?
What has sold since I listed?
Every few days I look at my listings, I look at what has sold and whats available in that market.
If your home is not selling its price. Price is determined by
YOUR HOME - the condition and what it has inside
THE LOCATION - whats around you? playgrounds add value while party houses subtract value
All my stats are from within the City of Red Deer but smaller towns in Central Alberta are about the same. Smaller towns are having some sales and I would suggest the percentage of sales to listings are similar to Red Deer.
If you are thinking of selling or have tried without success in the past send me an email with your name and address. I will send you an email back with market info for your neighborhood, things like whats available and what has sold.
Its a tough market out there, it is best to know whats happening. Start your sale with a competitive price.
If you have real estate questions please let me know.
Thanks for reading
Century 21 Advantage
Red Deer AB