Should It Take Longer To Sell The Higher The Price Of Your Home?

Alot of sellers assume that as the price of their home increases, or rather the VALUE of their home increases, the time it will take for them to sell also increases.  This is 100% true AND false.

My Estate Home Will Take Longer to Sell: FALSE: Why?

The value of a well priced home is attractive to buyers no matter what the price range... Whether it be $200,000 or $2,000,000, if you are able to effectively communicate the value of your home, buyers will acknowledge that value and your home will sell, and in a market like Calgary and area, it will sell relatively quickly.

The uniqueness of estate/larger homes is attractive to buyers, as are the locations they are typically in.  The lots are usually larger, and the homeowners hopefully have maintained the homes, added good landscaping, and have created a good sense of community with their neighbors.

 

My Estate Home Will Take Longer to Sell: TRUE: Why?

Oftentimes because owners of estate style, larger, more expensive homes are less likely to sell, there is less volume of homes sold within these neighborhoods. Stated another way, estate style homes are more likely to be "forever homes", so the volume of homes that come up for sale in these areas is typically less.  Due to this lower volume, there is less to compare your home to when you want to sell it if it's in one of these neoghbourhoods. This makes pricing more subjective, meaning it's as much art (in some cases), as it is science.  It's much easier to price a home when 10 homes that are 98% the same have been sold in the last month, than when there is one home that is very different has sold in the last year.

Tags