List prices don’t tell the story… sale prices do…
….is a line that we have to use a lot when we talk to (potential) sellers. Some sellers have a misconception when it comes to the value of their condo, and we understand. It is your home and – just like me by the way – you think it is worth so much because it is YOUR condo. You may have put into it a lot of work and money, or your neighbours, who have a similar condo, have listed at a certain price. And here is where it goes wrong. Their list price does not necessarily have to be the same as where the market is at the moment. Their condo may never sell because it is overpriced or maybe it will sell $50,000 below their list price. It is quite simple: market value is whatever buyers are willing to pay for a condo at a given time. We will only know what buyers are willing to pay for a certain condo when it is actually sold! A free market report is the perfect tool to learn more about these sale prices! Here is a live example of a market report.
So the sale price is for 95 percent all that matters. We do use list prices in our evaluation, but more so to determine the competition and your list price (within the market value range). For example, if there are not many of your specific type of condos on the market, we can list your condo at the high end of the market value range. However, if there is a lot of competition, you might want to price your condo a bit more aggressively.
If you are seriously thinking about selling or if you are ready to sell your condo now, a Comparative Market Analysis would be a better option over a market report for you at this time.
However, if you are playing with the idea of selling your condoin the (near) future or if you are just curious about selling prices in your Calgary community , a market report is a very educational tool for you at the moment. It will give you the list prices and the actual sold prices of all condos in your community as well as the days on the market. It will give you photos of the condos, graphics and trends at the same time. The market report is a fantastic tool you receive for free by monthly email and it keeps you up to date on the most important data in your Calgary community.
Ask us for a Comparative Market Analysis of your condo or a market report of your Calgary community at NO OBLIGATIONS AND NO COST, guaranteed!
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