How To Sell Your House When The Market's Not So Hot

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You've finished the renovations. You've de-cluttered your place to create the perfect atmosphere. You've held a few open houses, but for whatever reason, your house just won't sell.

So what gives?

You might be the victim of a downward market, according to Calgary-based realtor Peter Appleby.

"In this type of market there are [fewer] numbers of showings. We usually get three of four showings per week. In this market we're only getting one or two which is what happens in a downward market like this."

It's certainly the case in Calgary where the oil-driven economy continues to impact the value of housing. That's thanks to falling global oil prices, resulting in job losses and weakens home prices in the region, according to Moneysense Magazine.

Calgary's housing market has shown evidence of moderate overvaluation. It's a harsh wake-up call to some sellers that they're listing their houses for way too much.

It's a situation Appleby says can be the make-or-break factor for some sales.

"List the house very close to what the sold price would be. If you don't do this, you're going to be too high, you won't receive that many showings and you'll never get an offer."

Curious on what else home sellers can do when the market isn't in your favour? Check out the video above.

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