Why Won't My House/Property Sell?

Why Won't My Property Sell?

Ever driven by a home for sale for an extended period and wondered why no one has bought it yet? You may be worried that your own house won't sell when you go to list it.

There are several common reasons a house becomes hard to sell:

1. Overpricing

The number one reason a house is difficult to sell is an unrealistic asking price. Overpricing a home can scare away potential buyers. It's essential to price your home competitively based on recent comparable sales in the area. 

2. Poor Presentation

Your home isn't showing well to buyers. Poor staging, outdated decor, or a lack of curb appeal can make a home unappealing. Decluttering, deep cleaning, and minor cosmetic updates can help your home show its best.

3. Lack of Promotion

Your home may not be getting enough exposure to potential buyers. Proper promotion includes more than just a sign on your front lawn. Websites, digital ads, print ads, and open houses are valuable tools for promoting your home's listing.

4. Location or Condition Issues

Homes in undesirable locations or needing major repairs may struggle to attract buyers. Factors like noisy surroundings, flood risk, or outdated systems can be turnoffs for potential purchasers.

5. You need to give it time

If you researched the home's value, and your were provided a CMA report from your Realtor, the same CMA report will also give you an average days on the market to sell. Sometimes, it just takes time to sell. Use the average days on the market to provide you with a timeline to realistically give to sell the home. If it is well above the days on the market, relook at the numbers 1 to 4 above.

The Brad Sinclair Team has the Iguide system, a great tool for giving buyers a virtual look at your home before they book a showing. We also have a huge database of potential buyers and list our properties on the Toronto Real Estate Board and the Local Real Estate Board for more exposure. We also use digital marketing to get your listing in front of more eyes.

When you work with us, you can count on our team to leverage our extensive resources and expertise to get your property sold quickly and for the best possible price. Contact us today at 705-927-6236 to learn more about how we can take the stress out of selling your property.

Brought for you by: Your local Realtor®

If you are looking to either Buy or Sell, contact me at 705-927-6236

Brad Sinclair, Sales Representative

Team Lead at The Brad Sinclair Team

Royal Heritage Realty

Your inside source to cottage country

Week in review: Real Estate Market Watch and Update (March 16-March 22, 2025) Peterborough, Kawarthas and Hastings

 

Real Estate Market Report for Peterborough, Kawarthas and Highlands (Hastings). Get a snapshot of what is happening in your Real Estate Market for the week of March 16th to March 22, 2025

Looking at the numbers, the data suggests that lower-priced listings are selling below the average list price in all three areas, which could indicate an influx of first-time buyers. The City of Kawartha Lakes real estate market appears to be in a slower period, with lower new listings and overall sales compared to Peterborough and Hastings counties. However, the stronger sales activity and total dollar value of real estate in Peterborough and Hastings suggest a more robust market in those regions. Overall, the data paints a nuanced picture of the regional real estate trends, with some areas showing more activity and demand than others.

Peterborough and Peterborough County

# of Current Active Listings

718

# of New Active Listings

128

Average List Price

$960,428

Average Sales Price

$681,069

Average Days On the Market 

28

Total Dollar Value of Real Estate

$24,518,499

City of Kawartha Lakes 

# of Current Active Listings

519

# of New Active Listings

60

Average List Price

$818,762

Average Sales Price

$785,268

Average Days On the Market 

34

Total Dollar Value of Real Estate

$17,275,900

Hastings County

# of Current Active Listings

958

# of New Active Listings

116

Average List Price

$711,665

Average Sales Price

$512,012

Average Days On the Market 

56

Total Dollar Value of Real Estate

$21,504,513

Brought for you by: Your local Realtor®

If you are looking to either Buy or Sell, contact me at 705-927-6236

Brad Sinclair, Sales Representative

Team Lead at The Brad Sinclair Team

Royal Heritage Realty

Your inside source to cottage country

Bank of Canada Set to Cut Interest Rates Again (Fingers Crossed!)

Tiff Macklem Poised to Lower Rates for Third Time in 2024

Tomorrow, the financial world will be watching closely as Tiff Macklem, the Governor of the Bank of Canada, announces whether the central bank will cut interest rates for a third time this year. This highly anticipated decision comes on the heels of Canada's economy growing more than expected in the second quarter, despite the unemployment rate reaching its highest level in two years.

Economists are largely betting on a rate cut, primarily due to the elevated unemployment figures. Reducing the benchmark interest rate could have a ripple effect through the markets, ultimately providing some relief for Canadian consumers. This move could also serve as a much-needed boost for the country's stagnant real estate market, plagued by mortgage challenges and market uncertainty over the past two years.

"A 25-basis-point reduction in the policy rate won't make a huge change overnight, but there is a risk that the housing market interprets this as a signal of further rate cuts to come and sparks an acceleration in housing market activity," warned one economist. This cautious sentiment underscores the delicate balance the Bank of Canada must strike in its decision-making process.

While a rate cut could provide a much-needed boost to the real estate market and the overall economy, there is a risk of overreaction and unsustainable growth. The central bank will need to carefully monitor the market's response and be prepared to adjust its policies accordingly to ensure a stable and healthy economic environment.

Regardless of the outcome, one thing is clear: the Bank of Canada's actions will significantly impact millions of Canadians' lives. The challenge lies in striking the right balance between stimulating growth and maintaining stability – a delicate dance requiring the utmost skill and foresight from Tiff Macklem and his team.

As the country navigates these uncharted waters, the decisions made tomorrow will undoubtedly shape the future of Canada's economic landscape, with ripple effects that will be felt for years to come.