Selling a Property in a Seller's Market

Selling a Property in a Seller's Market

Calgary has been experiencing a seller's market for some time now. This means that sellers have an advantage over buyers as there are more buyers than there are homes available. As a result, homes are going over the listing price, and sellers are receiving multiple offers on their properties. In this blog, we will discuss how to prepare your home to sell in a seller's market and provide you with a market update and real estate news.

Market Update

According to the Calgary Real Estate Board, Calgary's housing market has been robust in recent months, with total sales increasing by 41% over last year's figure for the same period.

The latest numbers from the Calgary Real Estate Board show the benchmark price of a home in the city gained about one percent from last April to reach $550,800, while surpassing the previous record set in May last year of $546,000. These numbers indicate that the market is hot, and there is a high demand for homes in Calgary.

Real Estate News

In light of the current market conditions, homeowners are making upgrades to their homes to make them more attractive to buyers. According to a survey by Zolo, a Canadian real estate website, the most popular home upgrades include a fresh coat of paint, new flooring, and landscaping. These upgrades increase the value of the home and make it more appealing to potential buyers.

Sellers

If you are a seller in a seller's market, there are several things you can do to increase your chances of selling your home quickly and at a good price. The first step is to hire a professional real estate agent who knows the market and can help you price your home correctly. Your agent will also help you market your home effectively and negotiate with potential buyers.

The second step is to prepare your home for sale. Buyers in a seller's market are looking for turn-key properties that are move-in ready. This means that you need to make any necessary repairs and upgrades to your home. You should also declutter and depersonalize your home to make it more appealing to potential buyers.

Finally, you should be prepared to receive multiple offers on your home. Your real estate agent will help you navigate through the offers and negotiate the best deal for you.

Conclusion

In conclusion, selling a property in a seller's market can be both exciting and challenging. With the right preparation and guidance from a professional real estate agent, you can sell your home quickly and at a good price. Keep in mind that the market is constantly changing, and it is essential to stay up-to-date with the latest real estate news and market trends.