78 Properties didn't sell in Brampton in Sept 21

These 78 Properties did not sell in Brampton in September 2021 Hot Real Estate Market 😱

Wednesday Oct 20th, 2021

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These 78 Properties did not sell in Brampton in September 2021 Hot Real Estate Market 😱

 

 

Wow!! Can you believe this?

As you know the real estate market in Brampton & Mississauga cities of Region of Peel, and in fact throughout the Greater Toronto Area has been very very robust and homes have been selling like hot cakes. 🔥 🔥

There are multiple offers coming in pretty much on every property but still these 78 properties did not sell. And I am talking only about the FREEHold properties, not taking into consideration condos or condo town homes etc., only free hold houses.

These homes ranged in price as low as $499,000 to as high as $ 4 Million and plus and anything in between. 

Now, some of these property listings expired, some were terminated or suspended. There may have been some good reasons for taking some of the properties off the market, that is understandable, but Bottom line is, these 78 homes did not sell in Brampton in September 2021.

Another interesting fact to look at is the average  Number of Days it took in September to sell a house in Brampton.

If you look at the stats, the average property days on the market was only 13 days whereas the average days these unsold properties remained on the market were 76 days.

What could have been the reasons for these Brampton properties not selling?

Well, let’s look at it. What are the few major factors which make a home sell, irrespective of the market conditions?

First is the Condition of the house, how it appears, what are the upgrades, are there any apparent major or minor repairs which are needed or does the house need any upgrading.

Second is the Price of the house. Is the asking price in line with the market value of the similar homes recently sold in the area or presently available in the market.

These 2 factors, Condition and Price have to match. Condition of the property acts on the Buyer’s Heart 💖 & emotions while the Price of the home acts on the Brain 🧠. So both Heart and Brain have to accept this place, both heart and brain have to be in sync, these 2 have to match to make the home buyers take the next step. 

Another important factor is the Marketing of the property. Has it been staged properly? How does it show? How does the home smell when you enter? Are there professional photos and virtual tours of the home uploaded on the MLS Listing. 

Keep in mind, the pictures and virtual tours are the first introduction of the property to the prospective buyers and if they have not been taken professionally or if they have been taken by the real estate agent on his/her phone and don’t show well, chances are that the prospective buyers will not even come to see the property, even in this sizzling hot real estate market.

And believe you me, I have seen many property listings with a lot of shabby phone pictures. More shocking is that I have seen listings with these bad dark photos of the homes which are actually owned by Realtors themselves, oh my God, Realtors, come on people.

Anyway, coming back to these houses which did not sell, there could have been 1 or all of the above 3 factors responsible for it i.e. the condition of the house, the asking price and the marketing. And these are very important factors to keep in mind when selling your property, no matter what the market conditions are.

In the subsequent post/video, I will be talking about how to “Prepare your home to sell” to make it irresistible to the prospective buyers.

Please comment below about what you think about this topic and would welcome any suggestions.

If this resonates with you, please do like and subscribe also, it encourages me to bring more of the relevant helpful tips, news and views about the real estate market.

SELLING YOUR HOME DOESN'T HAVE TO BE SCARRY. 

🎃HAPPY HALLOWEEN EVERYONE!!🎃

Till next time.

 

 

Source: Toronto Real Estate Board

 

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