In a buoyant market, people selling real estate in Blue Mountain often think prices are rising briskly. While the market in the Georgian Triangle is great right now, buyers still remember what happened in the 80s and are cautious about overpricing. The most effective way to sell a property quickly for the best possible price is to set a realistic asking price based on present market data.
Deciding on a realistic price when selling real estate ensures that the gap between the selling price and the asking price is small. As such, the likelihood of competing offers will be greater. For example, a house or bungalow priced at 10% above its market value is much less likely to sell in the first 30 days of marketing than a similar one priced within 5% of its real value.
Current market conditions and historical sales determine recommended listing prices. The way you feel about testing the market determines how much more than the current selling prices of similar properties you can ask for yours.
Often, sellers think they can start at the market’s highest price and then, if necessary, drop later on. The downside to this is that it could take longer than usual for you to sell your property, while other similar homes priced slightly lower sell first because they appear to be comparatively cheaper than yours.
To get it right, it’s always best to work with an experienced REALTOR® when selling real estate in Blue Mountain – one who specializes in all types of properties, from houses right through to condos, town homes, etc.
Interested in selling real estate in Collingwood ON? Contact us, Ian Hawkins & Cindy Ryerse. We have 50 years of combined experience in the real estate industry, and our expertise and friendly customer service put us head and shoulders above our competition!