By Tom Albrecht | Mar 17, 2018 | Buyers Advice
Here’s a chart:
For example, let’s say Breanna Albrecht lists a home for $100,000 and sells it for his clients for $99,000, then the ratio would be 99%. In another example, buyer’s agent Tom Albrecht, might help someone negotiate a $6,000 discount on a competing brokerage’s listing. This would give a ratio of 94%.
An indication of a balanced market is when the ratio is between 98-99% (1-2% discounts). Once the average ratio crosses below 98% (2+% discounts), it represents one indicator of a buyer’s market.
The above chart shows us, that negotiations have been favoring the buyer, for most of the last 3 years (save for a couple of months after the fire).
But it is an interesting result, that sellers and buyers are still negotiating large discounts despite the number of buyers and sellers in the marketplace reaching “goldilocks” numbers (like the porridge - not too hot, not too cold).
Number 2: If you’re thinking of entering into a real estate transaction with us as a buyer or seller client, it’s good information to have that the average discount in the marketplace right now is approximately 3.5% for the market as a whole.
Selling? Because we specialize, we have listing agents who are dedicated to selling your home for absolute top dollar (that’s all they do - see our YouTube page, for example).
If you’d like to hear about our solutions and results, please reach out so that we can give you the information required to help you make the best decisions.
1 The data covers sales of all property types only the following areas: Abasand, Beacon Hill, Dickinsfield, Downtown, Eagle Ridge, Grayling Terrace, Parsons North, Prairie Creek, Stonecreek, Thickwood, Timberlea, Waterways and Wood Buffalo.