Doing something of an interactive project today… we’re going to start tracking asking prices. If you’ve been following some properties you’ve probably noticed that even with prices largely holding this year, asking prices still seem to be dropping. So we’re going do a bit of an unscientific sample of our own and see how prices progress the next few months.
Just to give it a loose framework, I figure we’ll pick 20 properties, each with a fair number of immediate comparables (neighbourhood, square footage, condition, etc)… 10 single family homes, and 10 condos, from all over the city and all price ranges
Shouldn’t be hard to find comparables for the condos since they’ll very likely be other units available in the building/complex, but the single family homes could be a bit more nuanced, especially with older homes, but we’ll do our best.
So, for the next week you can submit any properties you think will fit the bill via e-mail or comment… just submit the MLS# or the url of the listing (ex. http://www.realtor.ca/propertyDetails.aspx?propertyId=8150762).
Now, why don’t I just do it myself you ask… well, maybe I want to promote reader participation… or maybe I’m just lazy… okay, well, there really isn’t any ‘maybe’ about that last one, but it’s not mutually exclusive with the former.
Then we’ll narrow it down to 20 properties in various price ranges and neighbourhoods, and start tracking them. Obviously some will probably sell, that’s why we want to make sure there are direct comparables available.
So if you come across a listing that you think would work, please fire me an e-mail or post a comment.