Offers, offers, offers! It's pretty much raining offers!
Welcome to another edition of our Baden Market Report. Let's get right to the numbers because they are interesting!
In the last 60 days, there were 10 homes sold. Of those 10 homes, the average
days on the market was nine. And a lot of those homes are holding offers
and they would've sold much faster than nine days if they weren't.
The average sale price for those 10 homes was almost $781,000. On the North side of Snyder's Road, that will be the castle side (or where Timmy's is), the average sale price there was 889,508. And on the South side of Snyder's Road, the average sale price there
was just over $764,000.
In the last 60 days, 10 properties have sold, and of those 10 properties, 30% of them have sold to out of town realtors. So those are realtors that are not from our Kitchener-Waterloo Board. That means there's lots of clients coming in from out of town looking
to purchase properties right here in Baden.
Opportunities have opened for people to leave the city. People are working remotely and people are looking for more space. It'll be interesting to see how that trend continues in the upcoming months.
So here's a question for you:
Of those 10 homes, how many of those homes do you think sold for over asking price?
All but one.
But the one that didn't sell for over asking was priced a little higher, however they actually had the highest sale at $940,000.
So what are we seeing right now when a sign goes up on someone's property?
Offers, offers, offers. It's pretty much raining offers. What we're seeing is pretty much every property is selling firm, over asking, no conditions. It's not uncommon right now to see offers that are over 10, a couple dozen. I even heard recently of over 50 offers on one property as these buyers simply try to grasp a piece of the real estate pie.
So if you'd like to have these Baden Market Reports emailed to you just so you never miss an edition, feel free to reach out, we'd be happy to do that.
Until then, stay safe, and we'll talk to you soon!
The Lambert Group
