Real Estate Watch – Camden McKay Real Estate – Troy Merrell
PQ Market Update
As of the time of this writing we currently have 47 homes for sale with the average number of days on the market at 54. The average listing price in PQ currently sits just above $540,000, continuing the trend upward but keep in mind that this number can move a great deal depending on the ratio of condos to detached homes.
We currently appear to be shifting from an incredibly strong sellers market, which is typical this time of year with school back in session. If you are thinking of selling your home now is still a great time as inventory is quite low, leaving you with less competition. Keep in mind, it is important to price and market your home effectively. Often homeowners see a neighbor’s home sell for a great price and then price their home higher, only to see it sit. When choosing a listing price one should keep in mind that the listing price is used to market the home to potential buyers and is not the sales price. While I’m not a fan of drastically under-pricing a home, you won’t turn away potential buyers by doing so. If, however, you overprice your home people may move on to the next option without even looking at it. From my experience, well-priced homes sell quickly and for top dollar in any market.
If you’re out there looking to buy a home, now is a great time. Interest rates are still very low and with rents increasing rapidly, locking in a low payment on a home could be an incredible decision that sets you and your family up for life. If you’re in the market to buy a home call me to see if any of the pre-market properties from my investors meet your needs, or if you need a great lender or simply want to understand the process, I am happy to help.