If you listened CKNW today, they were sharing how some markets are seeing huge, almost over night price jumps. They had a handful of callers stating they have seen price jumps over the past seven to fourteen days of over $50,000 for no apparent reason.
It seems that the areas with extremely low supply are the ones generating these crazy price spikes.
This could be an incredible opportunity for anyone looking to cash out. So here is what to look for to gage if your home and area could be next.
1. How many active listings are for sale in my area?
2. How many active listings are for sale that are similar to my style of home?
3. How long is it taking for new listings to sell that are similar to my home?
4. What is the Listing to Sale ratio for my area. If it is 50% or higher, this is a huge sign.
These are important questions that could help you determine if you can or should cash in.
And if you are planning to sell your home, make sure you learn the most important things required to get top dollar in today's market.
Get your free copy of my new book called "Selling Mistakes You Can't Afford To Miss". Click the link to order your book now.
If you want to know what your home is worth, you can order a Free Online Valuation and Report here.
If you want t to speak with me or any of our other talented professionals, call 604.307.9448.
Kevin Lynch