Springbank Hill — Apartment Real Estate Statistics
- Property Price — Springbank Hill
- Sales-to-New Listings Ratio — Springbank Hill
- Price Per Square Foot — Springbank Hill
- Days on Market — Springbank Hill
- Sold-to-List Price Ratio — Springbank Hill
- Sales by Price Range — Springbank Hill
- Months of Supply — Springbank Hill
- Listings — Springbank Hill
- Sales Yearly Comparison — Springbank Hill
Property Price of Apartment Real Estate in Springbank Hill, Calgary
A higher blue line and lower green line indicates a "hotter market" with higher sales and less supply or inventory and will typically indicate higher prices and/or quicker sales with less options to choose from.
A higher green line and lower blue line indicates a "buyers market" with more to choose from and typically a stronger downward force on pricing.
The gold line indicates the media (middle price) of all the sold properties in the given timeframe and is less prone to higher weight being given from fluctuations in particular price points like luxury homes.
Sales To New Listings Ratio of Apartment Real Estate in Springbank Hill, Calgary
Sales to New Listings Ratio —
This graph indicates balance of the market as inventory comes and goes and new properties are added into the pool. Once again, high blue and lower green indicates more of a sellers market, while the opposite indicates a buyers market. The addition of the gold line indicates more sudden changes a rush of new listings may indicate a sharper change in the real estate market for this area or type of real estate.
Price Per Square Foot of Apartment Real Estate in Springbank Hill, Calgary
Price Per Square Foot —
This is general indicator what sellers are asking on a per square foot basis for their home and what the actual sales prices are. In single family residential homes these can vary wildly and should only be used for very homogenous homes (ie all full basements, no walkouts, none developed all with a 2 car garage attached on similar lots, etc.) The price per square foot is particularly useful, however, on real estate like low rise condos in the same complex with slight variations.
Days on Market of Apartment Real Estate in Springbank Hill, Calgary
Days on Market —
Trends on how long homes are taking to sell can be very good indicators of how quickly buyers need to make decisions, and whether sellers should be patient or more or less aggressive in their marketing and pricing.
Sold to List Price Ratio of Apartment Real Estate in Springbank Hill, Calgary
Sold to List Price Ratio —
The "hotter" the market, the closer to list price the ratio of sale to list will be. It is a very good indicator of what is a reasonable expectation on a properly priced home for negotiation. For example if a home is reasonably priced compared to its competition and what is actually selling in the market, and the sold to list price ratio is say 97.1%, then a buyer expecting a price reduction of 20% off ask is likely unrealistic and may hamper negotiations. Keep in mind, that this graph means nothing unless you take into account how well a property is actually priced to begin with. A common error for buyers is focusing more on wind lose negotiations than paying a fair price, resulting in walking away from good deals with reasonable sellers and completing on bad deals with lower offers on over priced listings.
Sales by Price Range of Apartment Real Estate in Springbank Hill, Calgary
Sales by Price Range —
This is one of the best indicators of the "caliber" of the homes in a community and what the area values actually reflected are. When combined with the price per square foot graph you get a very good indicator of what homes the homes are like, It can help with indicating whether a home is the highest price in the neighbourhood and is "over built" for the area or whether it falls into the norm for the area.
Months of Supply of Apartment Real Estate in Springbank Hill, Calgary
Months of Supply —
The months of supply is a direct correlation of the number of listings of homes actively for sale divided by the number of homes selling each month and typically has a correlation to the average and median selling prices of homes in the area. This directly corresponds with the "supply and demand" aspect of real estate pricing.
Listings of Apartment Real Estate in Springbank Hill, Calgary
Tracking of total inventory, new listings and sold listings over time can help you assess when is a good time to sell your home or whether you may want to hold out a little bit longer on the buy side as new inventory typically trends. For example if you are interested in selling your property in the spring when you feel the market is "hot" a look at this graph may indicate that listing it a month or two earlier is better as the sales trend upward earlier than the new listings giving you an advantage of having less competition. Or on the buy side, you may feel like you need to settle as your just not finding anything you truly like, but a look at the graph may tell you that historically you are only a few weeks away from an onslaught of new potential homes hitting the market.
Sales Yearly Comparison of Apartment Real Estate in Springbank Hill, Calgary
Sales Yearly Comparison —
This is a great graph to indicate where things currently are in relation to the long term trends of the area or property type. The media may be talking about how much activity is "up" or "down" right now. However, that is often only compared to last month or last year, when in fact if you compare it to the longer term trends, the market is still very much the opposite.
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