I recently
attended the Kentville Home Show as a vendor and got a great chance to speak
with people about what’s going on with the local real estate market. It was so
nice to connect with people that I wouldn’t normally see and chat about the
recent trends. Most people that I come across are noticing a significant
upswing in the number of properties getting sold lately, it’s true! Year to
date sales in the Annapolis Valley are up almost 23%! In case you don’t have a
benchmark of what’s normal in terms of fluctuations in sales, this is AMAZING!!
In the past 5 years since I have been a REALTOR® I have noticed maybe a couple of percentage points difference up or down. The general trend has been that of a Buyers Market. Well as of 2018 that has changed, there are more properties selling each day/week/month than properties getting listed. Get this! There are several shortages of inventory in a few different price ranges too! I have people looking for specific properties to purchase and they are selling almost immediately after coming on the market, we are seeing multiple competing offers on places, homes selling for above list price!
As an example, I recently wrote an offer on a property, we knew we were in a competition when we wrote the offer so we went in significantly above list price with no conditions. Unfortunately, we did not win the bidding war, but I later found out it sold for more than 60% above the list price!! WOWZA!! Obviously, this is an extreme example and the property had some very special circumstances surrounding it to go for such an astounding amount above the listing price!
The general consensus with the professionals in the industry (and even the public) is that the market here in the Annapolis Valley is HOT! HOT! HOT! If you are thinking of listing, it’s absolutely imperative to get it price correctly and marketed aggressively so that you can get top dollar! If you are thinking of purchasing, get an agent that has their finger on the pulse because you may find you miss out if you’re not completely prepared before making an offer on a popular property!
Need to discuss things? Call me anytime and let’s chat about your needs!
(902) 680-2736
In the past 5 years since I have been a REALTOR® I have noticed maybe a couple of percentage points difference up or down. The general trend has been that of a Buyers Market. Well as of 2018 that has changed, there are more properties selling each day/week/month than properties getting listed. Get this! There are several shortages of inventory in a few different price ranges too! I have people looking for specific properties to purchase and they are selling almost immediately after coming on the market, we are seeing multiple competing offers on places, homes selling for above list price!
As an example, I recently wrote an offer on a property, we knew we were in a competition when we wrote the offer so we went in significantly above list price with no conditions. Unfortunately, we did not win the bidding war, but I later found out it sold for more than 60% above the list price!! WOWZA!! Obviously, this is an extreme example and the property had some very special circumstances surrounding it to go for such an astounding amount above the listing price!
The general consensus with the professionals in the industry (and even the public) is that the market here in the Annapolis Valley is HOT! HOT! HOT! If you are thinking of listing, it’s absolutely imperative to get it price correctly and marketed aggressively so that you can get top dollar! If you are thinking of purchasing, get an agent that has their finger on the pulse because you may find you miss out if you’re not completely prepared before making an offer on a popular property!
Need to discuss things? Call me anytime and let’s chat about your needs!
(902) 680-2736
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