A blog cannot deal with all aspects of a subject and is not intended to replace professional advice. It's purpose is to highlight information and identify areas of possible interest. Anyone wishing to discuss this blog or to make any comments or suggestions about this blog is invited to do so by either posting comments or emailing me directly.

 

Sometimes you just have to laugh at the absurdity of our real estate business.


As a premier agent, we spend  over $1,000 marketing a home that we have listed for sale. Sometimes the market works in our favour and sometimes it doesn't. There always has to by a buyer willing to pay the price for a home in a specific location and in a specific condition. It isn't always that the home is overpriced – sometimes it is that there is little to no demand for that particular product (as we sometimes have to explain in detail.)


Sometimes, after 6 months, the seller says, "Thanks, we are going to try another agent." Okay, that's quite understandable and is not an issue. But PLEASE do not think that allowing them to copy the photos we paid dearly for or give them a price adjustment that you refused us is dealing fair. It is for these reasons that agents get bad reputations with other agents. And, one of the many reasons why many agents refuse to spend more than $100 to market a home that...

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July 2021: Price growth slows as supply to demand balance improves.

July sales totaled 2,319 units, which is well above long-term averages and the best July on record. The pace of sales growth has eased over the past few months, but so too has the pace of new listings growth. This has helped prevent any further monthly gains in inventory levels, and while overall supply remains slightly higher than last July, it’s mostly due to gains in apartment and row product.


With 6,678 units in inventory in July, the months of supply rose to just under three months. These gains are leading to far more balance between sellers and buyers. However, there is a significant variation between product type, as the months of supply ranged from two months in the detached sector to nearly six months in the apartment condominium sector.


Read the full report on the CREB website.




The following data is a comparison between July 2021 and July 2020 numbers, and is current as of August 2021.





Click here to view...

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Data is supplied by Pillar 9™ MLS® System. Pillar 9™ is the owner of the copyright in its MLS®System. Data is deemed reliable but is not guaranteed accurate by Pillar 9™.
The trademarks MLS®, Multiple Listing Service® and the associated logos are owned by The Canadian Real Estate Association (CREA) and identify the quality of services provided by real estate professionals who are members of CREA. Used under license.