Untitled Design

MARKET ANALYSIS 18 Old Hickory Court-Caledon

Prepared for:

Prepared by:

Martin Beaton

Rachel Markus | Salesperson 416.783.6040 rachel@markusteam.com

Phone: 416.483.4337 info@slavensrealestate.com slavensrealestate.com

IMPORTANCE OF PRICING In the dynamic and highly competitive Toronto real estate market, accurately pricing a home is paramount to both the seller's success and the stability of the broader market. Toronto, as one of North America's premier cities, has experienced significant real estate demand and has seen its prices swing with global economic and regional demographic shifts. Thus, getting the price right from the outset can make the difference between a swift, profitable sale and a property that languishes on the market, leading to potential price reductions and diminished returns.

The consequences of overpricing a home in Toronto are multifold. For starters, an overpriced property can deter potential buyers who are very familiar with the current market trends and values. Even in a hot market, buyers are increasingly savvy, leveraging online tools and market analysis to discern which homes offer true value. A home that is priced above its market value can stagnate, resulting in it becoming a "stale" listing. As the days on market accumulate, sellers may be forced to drop the price, sometimes below what would have been an appropriate initial asking price, to reinvigorate interest.

On the flip side, underpricing can cause a homeowner to miss out on potential returns. Given the significant investments tied up in real estate, ensuring one receives fair market value is crucial. Beyond individual concerns, erratic and misaligned pricing can introduce volatility into the broader market, leading to uncertainty and reduced confidence among both buyers and sellers. Thus, a balanced, well-informed pricing strategy is vital not only for individual success but for the health and stability of Toronto's housing market as a whole.

YOUR HOME

18 Old Hickory Crt - Caledon Age: 1994

Bedrooms: 4

Lot Size: 36.87 X 107

Bathrooms: 2+1

Style: Detached 2 Storey

Basement: Finished

Parking: Attached 2 car garage

PRICING- Bolton East - Caledon

This chart shows pricing of single family detached homes in the Bolton East area. As you can see prices peaked in March of 2022.

Using the Home Price Index report is a useful tool for looking at the appreciation over time. It is important to note that this tool does not take into account current factors that impact the housing market , such as current inventory, interest rates, employment etc.

Bolton East- Detached

2019 Min SOLD price

$760,000

Listings

Max SOLD price

$1,090,000

SOLD Listings

72%

AVG SOLD price

$900,438

Terminated Listings

28%

Expired Listings

0%

15

AVG Days on Market

26

11

2020 Min SOLD price

$730,000

Listings

Max SOLD price

$1,250,000

SOLD Listings

87%

AVG SOLD price

$900,438

Terminated Listings

13%

Expired Listings

0%

30

AVG Days on Market

8

2021 Min SOLD price

$1,025,000

Listings

Max SOLD price

$1,465,000

SOLD Listings

73%

AVG SOLD price

$1,200,955

Terminated Listings

27%

Expired Listings

0%

AVG Days on Market

8

Bolton East- Detached

2022 Min SOLD price

$1,176,500

Listings

Max SOLD price

$1,349,000

SOLD Listings

72%

AVG SOLD price

$1,275,125

Terminated Listings

14%

Expired Listings

14%

AVG Days on Market

6

7

2023 Min SOLD price

$1,035,000

Listings

Max SOLD price

$1,432,000

SOLD Listings

59%

AVG SOLD price

$1,229,462

Terminated Listings

27%

Expired Listings

14%

AVG Days on Market

21

no data for 2024!

22

SOLD HOMES 38 Strawberry Hill Crt West 38.75 x 119

4 Beds

3 Baths

$1,349,000 08/24/2022

HPI = 372

2 car attached garage Updated Kitchen and Bathrooms, Well staged Beautiful landscaping

240 Waterbury Street 33 X 106

4+1 Beds

3 Baths

$1,292,000 04/28/2023

HPI = 378

2 car attached garage Some cosmetic updates Well staged Finished basement

3 Royalton Drive 35 x 114

4 Beds

2 Baths

2 car attached garage Dated finishes - poor overall condition Unfinished basement only 2bathrooms

$1,052,000 10/22/2023

HPI = 382

CURRENT INVENTORY

These are the ONLY properties currently available, both are inferior to your home, with respect to both location & features.

FINANCING PRICING YOUR HOME NEIGHBOURHOOD STATS

$ 1,450,000

$ $1,229,462

$ $1,035,000

HIGH

AVERAGE

LOW

AVERAGE DAYS ON MARKET

21

TOP FEATURES AFFECTING SALE PRICE

$ $ $ $ PRICE RANGE

$

$ MIN

MAX

MONTHS OF INVENTORY 0

0

0

ACTIVE LISTINGS

RECENT SALES

MONTHS OF INVENTORY

SELLERS MARKET = 1-3

BALANCED MARKET = 4-6

BUYERS MARKET = 6 +

ACTIVE LISTINGS Properties currently available on today's market

SALES/SOLD/CLOSED Properties that have already sold and are no longer available

MONTHS OF INVENTORY A measure of absorption (ex. If people stopped listing home today, it would take this many months for everything to be sold)

LIST PRICE VS SALE PRICE The listing price is what the property is currently listed for and the sale price is the price, at which, the property was purchased

DAYS ON MARKET (DOM) The number of days a listing/property was available on the market before it is sold

MARKET TREND Perceived tendency of the real estate market to move in a particular direction over a certain period of time

STRATEGIC PRICING Select If

Aggressive

Market Value

Aspirational

You'd like to drive the maximum amount of interest & desire a quicker sale process.

You want buyers to see the property as listed in the expected listing range for this property.

You are comfortable with potentially less interest. Looking for a buyer who may be willing to pay higher.

Expected Interest

Potential Risk

Potential Reward

High- Should attract many buyers.

Buyer demand does not support strategy.

Listing at a higher price is not well received.

Quick sale - high likelyhood of multiple offers.

Medium / Price reductions may be needed

Lower / Price Reductions are more likely

15%

above market value

10%

above market value

-10%

-15%

below market value

High likelihood of gaining interest and traction when we first come to the market.

Qualified buyers pass over the listing and do not return even in the face of price reductions. Typically a longer time to sell.

Outlier buyers are willing to pay over the market value range because there are no other options (low inventory) or there is a unique feature they "need".

10%

find buyer

30%

find buyer

MARKET VALUE

Under market value

Little risk to pricing in the market range. If underpriced, buyers will bid up. If overpriced, be willing to negotiate.

60%

find buyer

75%

find buyer

90%

find buyer

FINANCING CALCULATE COSTS SELLING EXPENSES Real Estate Fee

$

Lawyers Fees

$

Disbursements

$

Mortgage Discharge Fee

$

Amt. Owing on Mortgage

$

HST

$

Total Expenses

$

Proceeds from Sale

$

BUYING EXPENSES Total Purchase Price

$

Land Transfer Tax

$

Disbursements

$

Financing Fees

$

Inspection

$

Miscellaneous

$

HST

$

Total Expenses/Closing Costs

$

CALCULATE ESTIMATED NET PROFIT Total Purchase Price

$

Proceeds from Sale

$

Less Expenses/Closing Costs

$

Down Payment on Purchase

$

Profit

$

Debt

$

Net

$

STRATEGIC PLAN & TIMELINE As we work together to prepare your home for sale, it's important to note that nothing will move forward without your approval. We will organize all contractors to accommodate your needs and make recommendations based on your preferred closing date

EXCLUSIVE START DATE SUGGESTED INTERIOR DESIGN CONSULT

EXCLUSIVE PRICE

PRE-LIST VIP SERVICES

PHOTO/VIDEOGRAPHY

TARGET MLS DATE POTENTIAL OPEN HOUSE

POTENTIAL MLS PRICE

OFFER DATE

TARGET FIRM DATE

PREFERRED CLOSING DATE

Listing Documents At the very top of the agreement, the Seller must initial if the listing will be on MLS and listed exclusively. This allows us to strategically promote your property while preparing it for MLS The details of the listing brokerage, the Sellers and the address of the property.

The length of the agreement and the asking price. Note this does not commit you to accepting offers at this price. * price may be amended before listing on MLS after review of current market data.

Commission covers total commission (excluding HST), including how much will be offered to the buyer's agent.

The Holdover period can be confusing. It commits the Seller to paying commission if the property is sold X days after the listing agreement expires. It protects the agent from Sellers who might negotiate a private sale at the end of an agreement to avoid paying commission.

Listing Documents

3. Representation covers our obligations to you, including how we manage information sharing if we represent both the buyer and the seller.

5. Notes that you must inform us if you are approached directly by a buyer or recieve an offer from a 3rd party.

9. In cases of separation or divorce, spousal consent may be required. Check with your lawyer if unsure.

Our Guarantee We understand that selling your home is not a transaction, but a significant life event. When you hire us, you trust us to do the absolute best for you. We take that trust very seriously.

That is why, if, for any reason, you are not happy or satisfied with our service, you can cancel your contract with us at any time.

Prepared by: Rachel Markus | Salesperson 416.783.6040 rachel@makusteam.com