Beaconsfield Home Price
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Sales Price vs Asking Price
Many people ask how to tell whether the market is heating up or cooling down. To them I say — always listen to the brokers. Not literally, of course! What you should listen for is the variance in what they’re saying to buyers versus sellers. If you’re a seller and you want to get a good read, pretend to be a buyer. Talk to the brokers and try to bid. They will almost instantly tell you how flexible the list price is. If they tell you they think they can close it at 20% less, this is a genuine indication for what’s truly going on. In a truly hot market, sale happens close to the list price or asking price, sometimes over it. In a cooling market, this gap becomes larger, leading to deals simply not closing.
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Seller's market
A Sales to-Listings (SLR) ratio under 40 per cent where new listings overtake sales suggests a buyer’s market, between 40 and 60 per cent is a balanced market and over 60 per cent, where demand exceeds supply, is a seller’s market.
Beaconsfield Single-Family Homes
Absorption Rate Absorption rate above 20%: seller's market Absorption rate below 15%: buyer's market Beaconsfield Single-Family Homes
Months Of Inventory 0-4 months: seller's market 5-8 months: balanced market 9 and more months of inventory: buyer's market |
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Beacon Hill (North East), Sherwood (North West), Forest Gardens (Central North), Central South, South East, Beaurepaire (South West)