Many homeowners in Calgary are dismayed about their homes, not selling fast. According to real estate experts, there is good demand for homes in Calgary, and the selling to listing price ratio is around 99%. Here we look at possible reasons a Calgary home isn’t selling fast. As a buyer, too, you should look for these points during your home search.
- The Price Is Too High
If there are more houses for sale in Calgary and only a few buyers, you need to consider revising the price. In most cases, it is not the condition but the price which is preventing the sale of your home. It is tough to determine the fair value of your home, and several factors need to be considered.
Home sellers can also browse local listings in their area and see if they have priced higher than comparable properties.
In Calgary, there has been a 2.2% downward trend in the home prices during the period (Feb 29 to Mar 28). The most significant price drop was for large homes. The average sale price of 6-bed houses dropped by 16%, while the average sale price of 2-bed homes dropped by 3%.
- Home Does Not Fit the Mold
According to the latest Calgary real estate market data, the median days on the market for a home are 39 days. However, this is not a standard value and the median days on market changes as per home type and market conditions. Some homes have unique properties that take a little longer to match a buyer.
For example, your home might be very big or expensive, or it is in particular areas in Calgary like Vanier or Heron having high crime rates and overcrowded communities. In such cases, you need to have some patience and take steps to showcase unusual features of your home in good light to attract buyers.
- The Staging Is Bad
Home staging refers to the preparation of private residences for sale. The primary objective of home staging is to make your home appealing to more buyers. Typically, a well-staged home not only sells for more money, but it also sells fast.
With vacant homes, prospective buyers are not able to envision the space potential. Hence, you should allow the photographer to shoot pictures with your stuff there.
- The Listing Photos Paint a Bad Picture
A picture speaks a thousand words, and it holds true with the listings of houses for sale in Calgary. If photos are not of professional quality, it will put off many prospective buyers. If a listing photo doesn’t show how great your home is, no buyer is going to visit it.
- The Curb Appeal Is Not Good
According to a Michigan State University study, an excellent curb appeal can increase the perceived value of a home by 5 to 11%. It also has a vital role in a faster sale of the home.
The average price of a home in Calgary is around $469K, while the median price is $445K. If the curb appeal is not right, you need to get a few things done to improve its curb appeal, which will not only fetch a higher price but also help you sell a home in Calgary faster.