There were 2,587 properties listed in May, an increase of 4.5 per cent compared to the same month the year prior. End-of-month listing inventory was 8.9 per cent lower than last May.
Seasonally adjusted* sales of residential properties were 11.1 per cent higher than the same month of the previous year, with the average sale price up 10 per cent for the month. Seasonally adjusted numbers of new listings were 5.7 per cent higher than the same month the year prior.
Seasonally adjusted data for residential properties for the month of May, 2015:
Actual overall residential sales of 1,752 units were 9.5 per cent higher than the previous year at the same time and also a new record for residential sales. Residential freehold sales were 11.6 per cent higher than last May while sales in the condominium market saw an increase of just 1.2 per cent.
Every community in RAHB’s market area has its own localized residential market. Please refer to the accompanying chart for residential market activity in select areas in RAHB’s jurisdiction.
*Seasonal adjustment removes normal seasonal variations, enabling analysis of monthly changes and fundamental trends in the data.
When selling your home, there will always be an emotional aspect to the entire ordeal. But to successfully sell, the seller needs to realize thatdetaching emotionally will attract buyers. Once you stop seeing the home as YOURS and start seeing it as a source of INCOME you will have an easier time selling and negotiating...
This will help with what awaits you in the sellers market...Things such as,high demand, shorter list time, multiple offers and low inventory. The sellers market can be a very stressful one, so be prepared and don't let emotions get the best of you when a good deal knocks at your door!
Starter Tipsto Prepare YourHouse for Sale...
Get packing! Buyers enjoy envisioning what it would be like to live in the space they are viewing. With clunky furniture and personal memorabilia scattered across the rooms, the buyers have a hard time foreseeing themselves living in the home. Start with the personal stuff: children's artwork, personal albums, souvenirs or any type of 'shrine-like' collections you might have. Keep it clean, neat and open for someone else's mind to visualize what it might be like to live there.
Not necessarily to your liking, but to the liking of the majority of people who will be viewing your home. Your taste might be specific and that might reflect in the layout of your home, but most people want to see an open playing field where they can paint their own picture of what it would be like to live in the space they're looking at. The best combination for the best result is usually neutralizing your home with a modern twist!
The Ready Lifestyle
Choosing the right price for your home isn't easy, that's why asking your Realtor for comparable sales on homes sold or still on the market in your general area is key when making such a decision. The next step after setting your price and putting your home on the market is being ready for buyers to come view your home when applicable to them, that's why your home always has to be in tip-top shape. Vacuumed floors, sparkling kitchen and bathroom, clean bedrooms, neat closets and lit up rooms... Nobody wants to enter a home with all the lights out, keep it lit, this makes it easier for the realtor to show the home without flickering all the lights off and on and also gives a smoother presentation.
Report on Comparable Prices
As previously mentioned, choosing the right price isn't easy, but that's what your Realtor is there to help you do. Finding current sales of similar properties with lots of pictures and details including how long they took to sell, what they sold for compared to what they listed for will make your pricing decision a lot easier. After conducting research of the general area, along with an appraisal of your home, ball parking a price that will benefit you and at the same time attract buyers shouldn't be too hard. Nobody wants to live "the Ready Lifestyle" forever, that's why choosing a reasonable price is key!