There has never been a worse time for business as usual. Real Estate Review 2011, Summerland

Before you read these stats, brace yourself!  If you still think it’s ok to list with just anyone, these stats will surely open your eyes!

RESIDENTIAL: More single family homes failed to find a buyer in 2011 than any year since 1998, and 2011 saw DOUBLE the failure rate of the very disastrous 2007!

FARMS/ORCHARDS: The number of failed efforts was five times the number of solds in Summerland.  There are 13 active listings, 5 solds all of 2011, and 26 times a property this category did not sell.

LOTS: there is a four and a half year supply of building lots in Summerland.

17 sold Summerland MLS, 78 active for sale and 36 tried to sell but could not find a buyer.

COMMERCIAL: 100% of the commercial, industrial, investment properties sold in Summerland (MLS) in 2011 were foreclosures.  But, there were only 2 sales anyway! And there are 17 left active, but there are 22 others that tried and failed to find a buyer in the last 12 months.

These MLS statistics display a very soft market where it is imperative your listing agent has the experience to get your place sold, now more than ever, a full service Agent makes all the difference in the world.

Patrick Murphy

250-486-2529

patrickmurphy@remax.net

PS My most recent listing sold for 99.3% of full price, in under 60 days!

 

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