People often see For Sale signs on their street and they understand what the asking price is as it is often advertised or an Open house reveals the price. What people don’t see is what the property eventually sold for and that has a greater impact on the values of homes in the area or on that specific street.

As a Realtor I need to provide accurate and relevant information for Sellers and Buyers and one way I can do that is look at the history and let people know what the homes are selling for today in comparison to previous years. Information is very powerful as it helps people on either side make decisions that will affect theirs and their families lives. Buyers want to know if their improvements are having a positive impact and buyers want to know what current values are so they can offer fair market value for a home they would like to purchase.

I have pulled together some research to illustrate this point.

• Street A in Port Perry Ontario had an average selling price in 2013 For a 4 Bedroom Detached Home was $450,550
• That is an increase of 3% from the previous year

• Street B in Port Perry Ontario had an average selling price in 2013 for a 3 bedroom detached home was $297,750
• That is an increase of 8,5% from the previous year

The National Media has a tendency to take large pools of data from large urban areas  and churn out numbers that can sometimes be scary to home buyers and sellers. When what home buyers and sellers need are the results from small niche communities, neighbouhoods or areas. Buyers don’t general look at purchasing anywhere across a large city – they narrow down their search to a few smaller communities, neighbourhoods or areas and then start looking. Likewise Sellers and are only impacted by what is happening in the immediate area they are selling. I do agree and admit Politics and Banking policies can have a [ large sweeping affect on the housing market across the county of province, but on the whole you need to look at what is happening and trending in the area you are selling or buying. 

If you are considering selling your current home or purchasing a new home and would like more detailed information and not just “Whats For Sale Right Now” then contact me and I would be happy to put together the appropriate information for you and or your family. Also if you are interested in how the market is doing in your area and do not want any obligations then send me an email or give a call and I will be happy to provide you with the information you need. email me scott@lifeindurham.com

Want to know what is happening your street? simply tell me what street and I will provide that information as well.