The end of summer holidays is in sight. The end is near!! Recently summer has become a slow time for real estate agents, often we can take advantage of the slow days with golfing, beaching and otherwise just taking it easy. In 2009 from June 1-Aug 25 there were only 41 sales in the City of Brooks. In 2010 for the same period it remained stable at 44 sales. 2011 period has definately showed the signs of recovery and showing strength at 57 sales.
The question to many real estate agents in Brooks is "why so many signs" and the perception of the public is nothing is moving and the real estate market isn't doing well. Obviously the numbers show something else. I've tried to break down why so many signs - is it because their is more listings compared to the past? or because less is selling overall ? or a combination of both?
I've taken a look at the listings versus solds in 6 of the largest subdivisions in Brooks (Uplands, Westend, Lakewood, Ingram Park, Central and Meadowbrook). In 2010 there were 158 properties listed in these subdivisions and 68 sold. In 2011 there were 160 properties listed and 67 sold.
When broken down further Uplands seems to be the biggest culprit. To date there have been 35 listings and only 12 sales, compared to last year of 36 listings and 18 sales. It doesn't sound like a huge difference but it does translate to almost 20% less sales in one large subdivision.
So maybe the signs the public sees are just more visible and noticeable because they are on a more trafficked street?
I guess what I'm trying to say is.....I don't know. In 2009 (time frame Jan 1-Aug 25) there were 107 sales, in 2010 (same time frame) there were 106 sales. To date of 2011 there have been 130 sales - Now that is a huge increase in sales. Yet, the amount of signs out in the town signify that nothing is moving
As a real estate broker, all I can say is that the properties that are sitting for a long period of time must be overpriced. Because in an improving real estate market your property should sell - as long as it is priced properly. Additionally, just because the real estate market is improving does not mean your properties are worth more money. The competition is one of the most important aspects to the price of the property and obviously, with the amount of signs out - there is a lot of competition.
Most importantly, if you would like to have a real conversation about the actual value of your home and the marketability and the saleability of it. Please never hesitate to contact me directly.
