Want to Sell a Home in Martensville and Surrounding Areas? Follow These Real Estate Market Trends

MyAgentMyHome.ca | Posted on Mon, Mar 16th 2015 00:00
Tags: Martensville Real Estateproperty listingsSell a Home

If you want to sell a home in Martensville and surrounding areas, you need to be aware of real estate market trends and how they will impact your home and your prospects of selling it. Real estate market trends – what house prices are; demographics-who is in the market; or what types and styles of homes are hot commodities. – can make or break a sale, so following  real estate market  trends is important.

Here, you can learn more about what key real estate market trends are worth keeping track of, in which market they may apply, and how they can impact the sale of your home.

Want to Sell a Home in Martensville and Surrounding Areas? Follow These Real Estate Market Trends

House Prices

Without a doubt, house prices will be a key metric when determining the right amount of time needed to sell a home in Martensville and surrounding areas, as well as when you should sell it.

House prices are broken up into two categories: median house prices and average house prices. The median is the home in the middle; if you took every single home for sale and lined them up in order of how much they cost, the median would be the home in the middle.

For the average, you simply add up all the homes and divide by the number of homes.

Median prices are better indicators -, since market statistics will not be skewed by an over abundance of expensive homes on the top end or an over abundance of inexpensive homes on the low end. Homes selling for lot value only, where “in-fill” new construction projects are popular or abused homes in foreclosure would be on the low end.

When the current trend indicates home prices are rising, you can feel confident about listing your home and getting full value quickly with little to no negations.

Number of Listings

Another key metric is the number of listings in a market at any given time. If you want to sell a home in Martensville and surrounding areas, you must be aware of the number of homes being sold in Martensville, and gauge the competition.

More homes – especially more homes that are similar to yours – equals more competition. More competition means it’ll be harder to sell a home without expert-level guidance and marketing. It also means buyers will have other homes to consider, which means yours has to stand out even more.

Look at real estate market trends that are specific to homes similar to your own.  For example, if you have a three-bedroom, two-bath home with approximately 1,600 square feet, you’ll want to look at other homes with similar characteristics in order to gauge your listing price. When competing homes have added features or are weaker than yours in some way, your agent will pay special attention to the details and make adjustments so that your asking price so it is in line with pertinent homes on the real estate market.

Real estate market trends are heavily dependent on what buyers are collectively looking for and what sellers are collectively offering. Selling during a lull in the market – when many sellers are sitting back and waiting – could be a prime time to list and hit an open market.

Above all, consult with a trained real estate professional when it comes to when you should sell and for how much.

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Saskatoon (Areas 1-5)

Jun 2018

Jun 2019

Percent Change

  • New Listings
  • 906.00
  • 821.00
  • -9.38%
  • Days on Market Until Sale
  • 51.00
  • 51.00
  • 0%
  • Average Sales Price
  • $332,980
  • $351,027
  • +5.42%

Surrounding Saskatoon (Areas 6-9)

  • New Listings
  • 2644.00
  • 2409.00
  • -8.89%
  • Days on Market Until Sale
  • 61.00
  • 83.00
  • +36.07%
  • Average Sales Price
  • $414,044
  • $250,614
  • -39.47%

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Average sales price for all closed sales, not accounting for seller concessions, in a given month.

A count of the properties that have been newly listed on the market in a given month.

Average number of days between when a property is listed and when an offer is accepted in a given month.

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