I detected a slight disturbance in the force this week. Several price reductions were posted for properties that haven’t sold (gasp) but even more telling was the amount of price increases that were posted. Now why would a seller increase the price of a property that has been on the market for around a week and hasn’t sold? I’m glad you asked….

Lets say a seller puts their home on the market and under-price’s it in order to attract multiple offers. They hold off looking at offers for 7 days but on the offer day, no offers appear. The disappointed seller could remove the home from the market or change strategies and increase the asking price to what they were originally hoping to sell for and then let the listing continue.

I saw several examples of this play out this week on the Realtor Hotsheet, so what does it mean? Is the market about to turn or slow down? A slowdown in the middle of a hot spring market would be unprecedented. Are buyers finally fed up and pulling out of the market? Honestly, it’s too soon to tell but stay tuned. I’ll keep my eye on this over the next few weeks and let you know if I see a trend.

Are you wondering what your home would sell for on today’s market? Call/text/email/DM me for a free market evaluation (in person or online). Put RE/MAX, real estate’s premier brand and my 20+ years of experience to work for you!

Dean Manton Broker

RE/MAX Real Estate Centre Inc

519-716-4663

dean@mantonteam.com