Why Does The Sold Price Matter?

Regardless of a buyers market or a sellers market…

The sold price tells you what to expect other houses to sell for.

Of course, this can fluctuate depending on many factors such as:
? # of bedrooms
? Square footage
? Lot size 

But sold prices set the standard for that subject area.

This is why I emphasize the little weight that the LIST price holds. 

Strategy behind a listing price changes depending on the market. 

And this can change every week.

Actually right now, we’re seeing a change in the market‼️

Slightly more supply, fewer offers on offer night and even some houses receiving no offers! ?

This is going to impact the strategy behind the list price.

But the bread and butter is in the sold price. ?

If a comparable house sold 3 days ago to the house that just got listed on the same street… 

We can confidently say that’s the market value for the area.

- Martina