Any real estate sales representative or broker who knows the Toronto area will always tell you that the longer a GTA real estate listing stays posted, the less that home will end up selling for. Below we have posted a guide displaying how most homes’ market value will depreciate over the first few months of listing:
Weeks on the Market vs. Percentage of Asking Price
The figures outlined below were provided by the National Association of Realtors, a United States-based association that conducts research on real estate market and home sales.
Weeks on the Market % of Asking Price
|0 - 4 Weeks||98.1%|
|4 - 12 Weeks||96.4%|
|13 - 24 Weeks||94.4%|
|24 - More Weeks||91.1%|
The longer your home is on the market, the less it will sell for.
Want to know more?
Each property is different – in many cases, it may not be the best decision to hurry the sale of your home in an attempt to get the best price for it. The best person to help you figure out when to accept an offer – and advise you on the best initial asking price for your property – is a GTA Realtor with the knowledge and insight to get your home sold at the right market value. CLICK HERE or visit one of our offices to get in touch with the real estate professionals at Living Realty Inc. today.