Sunday, February 10, 2008
Interesting Belleville market statistic
One of our clients in the office is looking a luxury homes in Belleville. (We define luxury as homes with asking prices above ~$550,000)
The other real estate agents are all gushing about how wonderful their listings are, our agent Laura looks at things a little more objectively. (Remember we represent the buyer - a big difference.)
So at one of our staff meetings recently Laura mentioned that in the particular segment of the market where she was helping a buyer look there are 21 homes on the market.
And-
In the last year 3 similar properties have sold. That is a 7 year inventory!
To be fair the luxury homes normally has a longer market time (closert o a year in most areas) but seven years of inventory is amazing!
If you are a buyer this is the MOST CRITICAL PIECE OF NEGOTIATING INFORMATION for you to have.
As the Exclusive Buyer's Agent working in the Belleville market we may be the only company who will discuss this with you.
The other real estate agents are all gushing about how wonderful their listings are, our agent Laura looks at things a little more objectively. (Remember we represent the buyer - a big difference.)
So at one of our staff meetings recently Laura mentioned that in the particular segment of the market where she was helping a buyer look there are 21 homes on the market.
And-
In the last year 3 similar properties have sold. That is a 7 year inventory!
To be fair the luxury homes normally has a longer market time (closert o a year in most areas) but seven years of inventory is amazing!
If you are a buyer this is the MOST CRITICAL PIECE OF NEGOTIATING INFORMATION for you to have.
As the Exclusive Buyer's Agent working in the Belleville market we may be the only company who will discuss this with you.
Labels: bellevile luxury market values, belleville exclusive buyer agent
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