Is Your Home Really “Not Selling”?

Might Not Be Selling

As of writing (September 2022), it’s taking, on average, 34 days to sell a home in Toronto. So if you’re on Day 11 and frustrated, you might need to readjust your expectations. Like everything in real estate, what’s happening in your immediate neighbourhood is the most important factor to consider…are your neighbours selling in 15, 34 or 60 days? Have you been on the market for a comparable amount of time as them?

Is your home staged? Is the staging connecting with the right buyers? Staging is expensive, but it’s something that most Toronto buyers have come to expect. Can potential buyers see themselves living in your home or are they spending time instead commenting on your decor? Many real estate teams (including us!) include staging in their commission – it’s THAT important.

Do you have a timing problem? While we can’t control what’s happening in the market right now or in the future, we can control some things when it comes to timing. Pay attention to what’s being listed for sale, selling and not selling in your neighbourhood; consider the dates that interest rate announcements are made, and real estate statistics are released; don’t forget about long weekends, extreme weather events and holidays.

Price, Price, Price
If you’re a Motivated or Desperate Seller and you’ve ruled out all the other reasons your home isn’t selling…you’ve got a PRICING problem. That’s true in almost any market conditions, but it’s especially true during a market shift. An outdated or overly ambitious asking price is almost always the reason a home isn’t selling.

September 2022 buyers aren’t going to pay February 2022 prices, no matter how much you want them to. And unfortunately, it’s not the buyers’ job to overpay for your home to help you meet your retirement g