Every day it seems I run across true facts that contradict those stories of doom and gloom that we hear, read and see in Media coverage on our housing market. Today’s example of how the facts can get in the way of a good story is a listing from one of our agents in the Richmond Hill office in the Bayview and Major Mackenzie area. It’s a three bedroom home that stayed on the market for just one day and sold for full listing price. Does that sound like a soft market to you? Real Estate 101 has always taught us that location, location, location, and pricing and a property that shows well, will never have any problems finding a new owner.
The twist in current conditions is that there are fewer of these gems getting listed and all agents will agree, those that are listed do not last long. The buyers are figuring that out. Last week I mentioned a listing that drew multiple offers and sold for much higher than list price. Today we have one that goes for full list price and sells within 24 hours. I don’t recall hearing that type of story on the local news.
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