And the Seller’s Market Continues….

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Stats are in for April 2012 in the Hamilton-Burlington area, and no surprise, we are still experiencing lower-than-normal inventory levels for this time of year which is driving up the average sales price, specifically in Burlington.

Burlington’s Average Sales Price is up a whopping 16.5% in April 2012 as compared to April 2011. This includes both Freehold (Detached/Townhomes) and Condominiums (Townhomes/Apartments).

Burlington’s Average Sales Price in April 2011 was $395,266 and for April 2012, it jumped to $460,586.

The Average Sales Price for Hamilton did not fare as well as Burlington.  While the number of Sales was up by 2.1% for April in Hamilton, the Average Sales Price actually fell by 1.8% to $287,574 for April 2012.

Bidding wars are the ‘norm’ this Spring in Burlington.  I had a fabulous listing that received 2 offers within 48 hours of it hitting the MLS.  Properties that are priced on the money and are in great condition, are selling like hotcakes.  Ones that need work and are over-priced, are sitting. 

What does that say about the Realtor® that takes these types of listings?

That they are wasting their time, effort and marketing dollars trying to attain an unrealistic price.  They are also doing a disservice to their clients by allowing the client to ‘run the show’ so to speak. 

When a Seller hires a Realtor®, they are hiring their expertise and guidance.  You wouldn’t hire an electrician and then proceed to tell him how to do his job would you?  No different in the world of Real Estate either.

Allow your Realtor® to do their job without interference.  You will attain a greater Sales Price and less aggravation in the long run!

 

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