Forget scouring the web for the greatest insight in all things Oak Bay. It's here...Oak Bay 101. yes.
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It's interesting, you know...real estate in Oak Bay. People might think it's a knock out punch every time a property here gets listed. The assumption might be that the sign goes in the ground and before the ink is dry on the listing agreement...there are a pile of offers waiting to be gone through.

 

Well, that has been the case in the past but over the last few years sales here in OB have been as challenging to complete as ever. I created an infographic document (click here to view) in order to show graphically just how difficult it can be to sell properties in Oak Bay.

 

For instance take Single Family Dwellings (SFD) in all parts of Oak Bay. Properties of this sort which were Listed for sale between January 1, 2013 and December 31, 2013 totalled 413 in all. As you can see in the first graphic in the infographic...224 of those listings sold the first time they were listed. Sounds great, right? Afterall...those 224 solds represent 54.3% of all listings.

 

And those 224 sales took only 36 Days on average to sell. I'd say that's an ideal period of time to be on the market. Just over a month! Not too quick, not too long. Might just point to a list price that was accurate and in line with the market. Well done!

 

That's the group I bet we'd all want to be a part of. But if you've had your SFD for sale in Oak Bay through 2013 and you remain unsold...then unfortuately your listing falls into the 45.7% of UNSOLD listings.

 

45.7% of the total 413 listings is 189 unsold homes. So...what's the big deal right? Well...there are a couple of things you have to look at to see to get the idea...Instead of being on the market for an average of 30-something days like accurately priced homes in Oak Bay were...these UNSOLD listings were on the market for a median average of 97 Days...that's 2.7 TIMES LONGER THAN SOLD LISTINGS.

 

So next time...before you list your home for sale...Get a 2nd opinion...Sell your home the 1st time and save yourself the headaches of listing two or MORE times...On average, having to list your home a second times will push your total number of days on market to 97 + 36 = 133 Days!!!

 

A 2nd opinion like the one I will do for you will use market statistics like this but more importantly will identify what's SPECIAL about your Home. That afterall is your competitive advantage. All homes are not the same...I get that. So what I'll do is market your Unique Selling Position to the group of most likely buyers at a price that's at and above where the market is telling us it will go out at. We don't want to leave any money on the table, right?

 

What do you think of the INFOGRAPHIC as a whole? (click here to view)

 

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Don't List Your Home Without A 2nd Opinion


The stats in the INFOGRAPHIC above...

Show the importance of getting a 2nd opinion on the value of your home before listing it on the market. It shows that about 50% of all SFD & Condo listings in the areas of Oak Bay, Fairfield and Saanich East through 2013 went Unsold in 2013...At least the first time on market...And that SOLD listings stay on the market an incredibly shorter period of time (based on Median Average Days on Market) than Unsold listings do.


For your information as a seller seeking the True Value of your property...

 

There are other statsitics I've compiled from successfully Sold Properties as well that show very clearly Ratios of List Price to Sold Price that are absolutely astonishing.

I looked at each of the neighbourhoods of Oak Bay, Fairfield and Saanich East individually then amassed the statistics related to each through research and interpretation of data available through the Victoria Real Estate Board (VREB.) I can replicate the exact findings in full as all info is "unwashed." You just need to know what you're looking for and how to access it. Pretty simple. Available to view on request.

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That "Deer Ad"


So here's an ad that I wrote which got a lot of attention. I knew I was onto something when I started showing the copy to friends and family, colleagues and then happily I had the chance to show it to a few PR type of people as well. (They were the most straight faced of everyone. Still don't know why.) Overall I got a few chuckles and a couple of doubters...those who thought it was a spoof, that it would never go into print. (Guess they know now it was for real.) Anyway, the point of the ad...the reason I wrote the ad like I did is because first and foremost I've been bored. Bored with the ads I've been using to market my business. Bored with the ads and the mediums being used to market clients' homes. It's all so safe, so sanitary, so boring. Across the board. Wash, rinse, repeat. I think you know what I am talking about. So this is something a little different. The ad is called "Oak Bay 101" because it's where I live. And I for one see Oak Bay as a beautiful, quirky, inspirational community. I think I get what it means to live here. And I think the Deer do too.

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