Weekly 416 Sold Over Asking numbers. Haven't shared in a while.
Freeholds still chugging along at numbers only seen in record-sales year 2016. Took sharp upturn last week (but one week doesn't mean trend, could be blip). /1
Freeholds still chugging along at numbers only seen in record-sales year 2016. Took sharp upturn last week (but one week doesn't mean trend, could be blip). /1
Same in 20% over asking. Strongest numbers since 2016 for last 3 months. I track this as one indicator of market heat 🔥. In years I've tracked, the peaks for these stats have coincided with frothiest periods (spring 2017 (red), Feb/Mar 2020), and drops in uncertain times. /2
Condos also showing all-time highs in last 3 months. Part due to "delayed spring" catch up of sales activity. This one doesn't seem to jive with growing weakness in the market. Could be a shift in WHY agents use this strategy... /3
Up to now it was for a 🔥 unit, or 🔥 building, or 🔥area, or 🔥 overall market, where offer competition might set new record price. 📈
But with not many hot spots now, maybe primary objective for some using underlist-and-hold-offers is now to get transaction done quickly. /4
But with not many hot spots now, maybe primary objective for some using underlist-and-hold-offers is now to get transaction done quickly. /4
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