The market is slowly shifting to being more balanced. After approximately 3-4 years of it being a very heavily weighted Sellers market, we're starting to see things shift and Buyers are having an easier time making purchases happen.

 

It looks like the days of 10+ offers coming to the table and homes setting new sales records with each transaction are coming to an end. I am seeing 2-3 offers competing for well priced properties that offer something unique by way of location, lot, finishes etc.. Another more recent phenomena is that buyers wait until after the offer date to see if the property sells, and then work to negotiate a price acceptable to both parties. 

 

We are not yet seeing listing prices in the Valleys of Thornhill reflect the new reality. As I have written previously (The Valleys of Thornhill - What's selling, what's not and why?!), there are many properties that are simply not priced to sell, and by this I mean that they are not priced within 10% of their value to attract buyers.

 

It is imperative that a home be priced properly for it to sell. Sure some home owners may just be testing the market but I believe that the majority are being falsely led to believe that their home will sell for an unrealistic amount to hype the seller and secure a listing... of course a price reduction or listing termination always follows. 

 

If you want to know what your home is REALLY worth and what it should realistically sell for I'd be happy to provide a free home evaluation... exaggeration and hyperbole not included.