Mike and Emily are thinking it might be time to sell their Belleville home. It’s getting a bit small for their growing family and he thinks they might like to move to the country.
Lots of questions and concerns. Is it the right time? Is the local real estate market favouring sellers or buyers? Are prices up or down? There’s a lot to consider.
We can help. We won’t throw around a bunch of stats and figures (if you want to see them click here!). I’ll just tell you a story from our daily experience.
This story began on January 25th this year.
We listed a young couples’ home in a great neighbourhood in Belleville.
We advise our sellers to review offers after 5 days on the market. This will optimize the number of buyers who view the property. In turn we hope this will lead to multiple offers. A “bidding war”.
In that 5 day period we arrange over 20 showings. These are all individual buyers. All seeking a home of this type in this price range. That’s over 20 buyers clamouring for a chance to view and possibly buy this home.
After the 5 days we received 3 offers all of which were over the asking price.
This scenario is happening over and over again in Belleville and surrounding areas.
Why? Simple answer is lack of inventory. Not enough homes to sell to all these buyers. It happens on the many of our residential listings.
15 people view a home. 1 person buys that home. 14 people are still searching. That’s a lot of demand. Strangled supply.
Mike and Emily now have their answers – Seller’s market for sure! There are tons of Buyers, and their spring market has already begun. Sellers need to catch up and take advantage of this perfect storm.
Mike and Emily need to contact us immediately!
Waiting too long could mean an increase in inventory giving buyers more to chose from. Fewer showings and less chance of multiple offers and over-asking sale prices.
With good guidance and professional protection, Mike and Emily will make that move to the country and the kids will have their own rooms.