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06 Dec Knowing Your Local Market Pays

Having a good understanding of the real estate market in your area is very important when thinking about buying or selling a home.
We have found through the Vancouver Association of REALTORS® some great information designed to help buyers and sellers understand our local market. All of our Agents are experts in the Real Estate Market in Vancouver. We work to provide you all the information on our market for the month.

Sold Listings

  • It is good to understand how many houses have sold in our geographical area compared to past years in order to determine what the popularity in the area is.
  • Buying when the housing market is slower has some advantages:
  • Sellers will set lower prices
  • Sellers are more likely to accept offer that are less than their original asking price
  • Less competition with other buyers
  • These things will normally result in a great deal of savings for the buyer.
  • Contact Us and we will help you navigate the local market to get your dream home for the best possible price.

Average Sold Price Vs. Original List Price

Average Sold Price versus the Original List Price (OLP) will normally be lower the longer it takes to sell the home. Understanding how to price your home properly is important when selling your house, if your house is over-priced homes take longer to sell. Consult with a Real Estate Agent that is an expert in the local market, they will help you set a more realistic price for your market and can help you to sell your home faster so you get a better return. Contact Us and we will help you navigate the local market to get the best possible price for your home. View the graph below to view the Vancouver sales of existing homes and median prices.

Vancouver Sales of Existing Homes & Median Price

Days on market matter. It is the number of days a listing is active before an offer has been accepted by the seller. Many agents refer to “average days on market,” which is derived by adding all the days on market of each listing and dividing by the number of listings. In a buyer’s market, the DOM are generally higher because inventory takes longer to sell. In a seller’s market, the DOM are fewer. Consult with a Real Estate Agent that is an expert in the local market, they will help you set a more realistic price for your market and can help you to sell your home faster so you get a better return. Contact Us and we will help you navigate the local market to get the best possible price for your home.
Dollar Volume of Sales – Down 5% in 2011, and Up 3% in 2012…

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We work closely with you and carry out research to understand your needs and wishes.