HRM Market check
What’s made this year more notable has been the very slow start for the first 5 months of the year, which felt especially compounded by the soft 4th quarter last year. 2012 Jan- June 1st HRM Sales Stats Volume $815,047,663 & Units 6241.5. For the same time period in 2013, Volume $630,543,950 & in units 4643.5. That is a decrease in HRM Sales Volume by 23% & in units of 24%. These are usually the 5 months where most of us write between 70-75% of deals. Both clients & sales agents alike felt the heat of the difficult spring market this year, especially as decently-priced, good showing homes in good neighborhoods were just not moving at all during that period.
According to the NSAR board reports $443,892,398 in real estate sales volume was recorded for HRM this summer (from June 1st until Aug 31st). That’s 3,369 in unit sales. This accounts for 41% of the overall 2013 HRM real estate sales production figure year-to-date (and 42% of the overall unit sales production). This means that even though the overall numbers are down significantly, there has been considerable movement in the marketplace in the last 3 months.
Where does Re/Max Nova fit into all of this? Re/Max Nova 2013 Jan-Aug 31st Sales Stats (NSAR Board Reports) $120,589,568 in Volume & 913 units. That is UP from Re/Max Nova's performance during the same period in 2012 ( Volume $115,209,368 & 908 Units ).
Great agents sell homes FAST!
According to NSAR ( Nova Scotia Association of Realtors® ) statistics, it takes an industry average of 91 days to sell a residential home in HRM (about 3 months) in 2012.
Re/Max Nova’s sales performance record as a company for the last year (based on 1098 sales from Sept 2011 to Sept 2012) has been 77 Days. That's almost 2 weeks faster than the industry average. But our top 3 top agents posted even more impressive stats than that(actually, they always seem to post significantly better performances than the averages). This year was no exception. The average market time of the top 10 listers at RE/MAX nova this year combined for an average Days-On-Market of 58 days (235 properties). Wow, impressive! It's not a coincidence that your company's top producers are among it's fiercest competitors. Better than 77 Days-On-Market? YES! There's always a lot to celebrate at RE/MAX Nova and our Days-on-Market averages are definitely one of those things worth celebrating. It takes a lot of time, energy, and effort to consistantly maintain and improve on your market times Merv Edinger's average day-on-the-market over the last 12 months ( Sept 2011-Sept 2012 ) is 48.4 Days! That is 53% FASTER than his competition. In the first third of 2013, Merv Edinger & Associates has been averaging just 18 DAYS on the market to get their sellers an accepted offer!
There are 2 key stats that top listing agents use regularly to differentiate themselves from everyone else in the industry. The first is market share. These agents list and sell more houses than most agents, and they leverage this fact to regularly beat out the competition in a listing presentation. The second less known stat that works to top agent's advantage is their ability to move their inventory relatively quickly.
Only by measuring and paying attention to performance can one improve on performance. And only by improving on performance can one out compete the competition, and this is absolutely essential to growing any business, including ours.