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- The Truth About the “List-to-Sold Price Ratio” - And How It Can Help You Win
The Truth About the “List-to-Sold Price Ratio” - And How It Can Help You Win
You’ve probably heard that homes in Ottawa are selling for 98% to 100% of their list price. Sounds great, right? The truth is, that number can be very misleading.
With recent realtor system changes, homes can now be removed and re-listed as if they are brand new, and the public can’t see the total days on market anymore. When a property gets re-listed at a lower price, the “list-to-sold” ratio is based on that reduced price, not the original asking price.
This means the official numbers often appear higher than they really are, with the actual sold price typically falling around 92% to 95% of the list price.
The best way to know if a home was re-listed or is truly new is to ask your realtor to check its history, or use sites like HouseSigma or Redfin. While this can seem like a headache to figure out, there are benefits to this for both buyers and sellers.
Benefits for Sellers:
Set a realistic price from day one, avoiding the stale-listing effect and multiple reductions. You will attract more buyers right away instead of waiting until the price finally lines up with the market.
Benefits for Buyers:
Most homes are only one to two price reduction’s away from actually selling at the right price. Use this as leverage for negotiations.
If a home has been on the market for more than 30 days, it is most likely a price or market issue and that is your opportunity to negotiate.
Bottom line: Knowing the real story behind the numbers gives you a huge advantage, whether you are buying or selling.
Want To Benefit In This Market?
I’ve got a beautiful track record with buying and selling in all kinds of markets. If you want a clear plan for today’s market, reply to this email to book a no-pressure home sale consultation.
Thank you!
Thank you for reading this week’s edition of my newsletter.
Sincerely,
Cale Botha
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Hello, and thank you for taking the time to read this email. This message is part of an ongoing conversation, and I want to ensure you have full transparency about why you received this message, how your information is handled, and what to expect from future emails. • Email: Cale@calebotha(dot)ca • Phone: +1 343 262 1260 (Available Monday through Sunday) • Mailing Address: 1543 Briarfield Crescent, Ottawa, ON We strive to ensure all communication channels are open and readily available to you. Whether it’s a question, comment, or concern, our team is ready to assist. |