Expired Listings always existed in the market despite the market condition. When the market changes, either there are more homes for sale in the market or there is not enough inventory for the buyers. When it happened, the Price would fluctuate accordingly. The market condition is affected by the interest rate, local or global economy, migration, or a recent pandemic in the world.
However, the price of the property is always based on Supply and Demand. When the Supply is less than the Demand, the Price is increased. On the other hand, the Price would be decreased when the Supply is more than the Demand. This theory applies to all products and services including Real Estate.
You may have a question about why some properties can be sold at a good price while others never sell despite the market condition. When you sell your home, you need to ask yourself a few questions.
1. Motivation: Why do you want to sell your home?
2. Timing: Why do you want to sell now or at a specific time? How soon do you need to close the deal?
3. Price: How do you determine the Market Value of your home? Is it what you want or what the market is willing to pay you?
4. How do you choose an agent? Did they really know the market and suggest to you the fair market value of your home?
5. What is the Plan of Action that the agent would take to get your home sold in a reasonable time?
6. Commission: Is the lowest commission the most important criteria you choose an agent or their Service and Experience?
There are many reasons why your home didn't sell your home. If you are serious to sell your home in this challenging market, give us a Call at 416-399-9981 or Email: email@example.com