with Century 21 Advantage
As realtors we are asked if we should wait for spring or try to sell now. My opinion is right now! My reasoning is simple. Although less houses sell in the winter than summer, houses do sell. Last December Red Deer saw 98 homes sell.
December 1st to the 7th we saw 30 homes sell
December 8th to the 15th we saw another 30 sell
December 16th to the 23rd there were another 31
That leaves 7 sell from December 24th to the 31st. That was probably the biggest surprise to me that there were actually 7 homes sell over the Christmas holiday break. The nice thing about selling through December is that if you get a viewing then that person looking is an actual qualified buyer. A lot of people look in the spring and summer wondering what is available to buy if they decide to buy, where a person who is willing to tredge through the snow is actually looking to buy something soon.
This past month we have had a very active market. From October 28th to November 28th Red Deer has seen 120 homes sell. Out of those 120 sales the average sale price was 96.5% of the current asking price. The average asking price was $297,172 with the selling price averaging out at $288,232. So what does that all mean? To me it means we have a solid buyers market, that houses are selling regardless of the time and weather. People need homes and are out shopping and buying. Out of that 120 sales there were only 5 over with a $500,000+ price tag. That shows that Red Deer residebts are buying less expensive homes than in the past few years. Homes have droped in price an average of 15% in the past few years and people are noticing. Smaller homes with smaller mortgages.
Another one of the biggest questions we get is what we should offer when we find the right house. That is where your realtor comes in. He/she should show you comparable properties that have sold recently in the neighborhood and in your price range. Remember your offer is the start of the buying process, the current owner will look at your offer and decide to accept,reject or make a counter back. An insulting initial offer will probably get you a no unless you and your realtor can show why your low offer is a good offer. This is where good realtors shine. But if your offer is low and with no basis you will probably still get a no. Last months numbers tell the story, out of all the sales the houses sold for 96.5% of their asking price, 7 of them sold at asking price and one actually sold for 3% over asking price.
All that means to you as a buyer is make sure your realtor is watching the market and knows what is happening. If you are looking for a realtor or have any real estate questions please contact me in any way you are comfortable. I can help!
Thanks for reading
Ken Devoe – Century 21 Advantage