The Valleys of Thornhill - What's selling, what's not and why?!

Edited by Admin
Ladies and gentlemen the spring market is upon us! I'm sure as you walk and drive around the neighborhood you see the for sale signs dotting the neighbors lawns, the open house sings on the corners.... but not many sold stickers, why is this?
Well lets take a look at some numbers to gain some insight into what's happening up in the Valleys of Thornhill.
I did a quick MLS search to see how many listings were last updated since Jan 1st 2017 and I find that the total is 135. That doesn't mean 135 homes were for sale, it means that there were 135 listings. You might think that they're the same but this isn't so. Often times for various reasons a home will be listed, come off the market and then be relisted again - an example of why might be a price change, a failed attempt at getting multiples etc.
The actual total number of unique properties listed for sale is 102 and of that 102 we have 49 sold thus far. I don't know about you but I don't think that's very good, how can it be that only 48% of listings have sold? What about the super hot, overheated market we keep hearing about?!?
I have an inkling as to why though you may not like it. Homes are being overpriced, and or sellers are not accepting offers that reflect the true value of their homes and this tidbit may be something that your realtor is not sharing with you.
There are currently 21 detached homes for sale in the Valley's of Thornhill with an average asking price of $2,150,132, of these 21, it is my opinion that roughly 3/4 aren't priced to sell. I would love to be wrong, though if I were we wouldn't have an average of 14 days on market for active listings, would we? The tried and true technique of listing and selling with multiple offers in 1 week would work - wouldn't it? We wouldn't have 48 listings that were either terminated or suspended i.e taken off the market.
If you're thinking about selling your home it is crucial to be priced and marketed property or the home simply wont sell, this is true no matter the market conditions.
If you want to know what your home is REALLY worth and what it would realistically sell for feel free to drop me a line, I won't b.s. you to try and get your business. I earn my clients by being open and honest with them and telling the truth.. not what I 'think' they might want to hear.