If you’re reading this, odds are that you have an innate interest in the ins and outs of the real estate world (like us!) or that you’re specifically looking to take part in the market, either today or in the near future.
Today we’re going to be looking at a question that comes up fairly frequently: how much did your neighbour’s home sell for? Or perhaps more flexibly: how do you find out how much your neighbour’s home sold for?
Following the real estate market is exciting, sometimes nerve-wracking, but always fascinating. It can seem like things are changing all the time, and to a certain extent, they are.
With figurative developments like market fluctuations, as well as physical developments ranging from condo towers to townhomes, there’s always plenty to pay attention to.
And whether you’re just trying to keep up to date on the market as a whole, following for investment purposes, or you are thinking of buying/selling at some point, it can be both practical and fun to know what specifically is going on.
The Definitive Way to See Out How Much a Home Sold For
Have you ever been for a stroll or a drive through your neighbourhood and spotted a “For Sale” on someone’s lawn? Did you later notice that “For Sale” sign suddenly transform into a “Sold!” one?
And then, later that evening, perhaps as you sat grooming your collection of Chia Pets, did you find yourself saying to yourself, “I wonder how much it went for?” Well, you’re not alone — many, many people have wondered what homes in their neighbourhood are selling for (and I’m sure a few people even have a collection of Chia Pets).
Whether you’re interested in a property that sold in your immediate vicinity, or one that you noticed while out and about, it’s natural to wonder what things are selling for, particularly if you’re interested in a specific area.
And whether it’s a property quite near to you or on the other side of town, the easiest way to find that information is to reach out to a real estate agent and ask them!
Find Out What a Property Sold For
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Can You See How Much Homes Sold for Online?
The question often comes up about whether it’s possible to simply find this information online. After all, if it’s possible to google everything from the exchange rate between a 21st-Century Canadian dollar and a 19th-Century British shilling, and what Virginia Woolf liked to do on her spare time (hint: it has to do with her collection of Chia Pets), shouldn’t it be easy to google what your neighbour’s house sold for? The answer, alas, is no.
As a close alternative, we do offer an online home evaluation tool, where you can assess (approximately) what the market value of a specific property is. This can be handy in two ways: it will give you a ballpark estimate of the market worth of an address, and it does also include details about how much neighbouring properties have been selling for.
This is a great way to get your bearings, quickly and effortlessly online, however it’s important to note that this tool tells you what a property COULD approximately sell for in the current market. It does not provide on-demand the recent sale price of the given address. Once again, the best way to dig up historic and detailed sales data is to speak directly with a certified agent.
Why is this the case? It comes down to how and where real estate sold data is stored. The data about real estate sales is partitioned and protected, and this partitioned protection is provided by three parties: at a city level, the data is protected by the local real estate board, and beyond that, other governing bodies such as OREA (at the provincial level) and RECO (at the federal level) are also involved.
This isn’t done arbitrarily, however. How much a property sold for is (and really ought to be) private to the seller. It’s not something that many would want broadly and openly published. For this reason, the database is not publicly available: it’s done in order to protect the seller.
Having said that, there are circumstances when specific data like that is useful or even necessary to making an informed decision.
The information can be available to access within the contexts of looking to buy, sell, or invest in real estate, or even for educational purposes if one wishes to understand the market better.
Not being widely, publicly available is not the same as being completely sealed off. No, you can’t simply find sold prices on google, but that does not mean there is no way to access it.
In practice, the way you can find sold prices and learn more about the market is by working with a trained realtor who is certified in handling this (and other) real estate data. For you, it can be as simple as starting the conversation with a real estate agent of your choosing, and putting your questions and concerns to them.
A good realtor will have the training and ability to not only access the information you’re interested in, but also to process all of that data and apply it to your unique situation.
A real estate agent can help you in a wide range of ways. They will be able to reveal the sold prices of specific homes; help you estimate the value of your own home; keep you informed about the state of the market and current or historic market trends; print off and provide you with detailed reports; tell you about the real estate process in general; and much more.
At WRX, we love being a part of people’s real estate journey, and we are committed to keeping people up to date on the market. We are always happy to help people stay on top of what’s going on in the Waterloo Region (Kitchener, Waterloo, Cambridge and the Townships), Guelph, Wellington County, and beyond
So what does all of this mean for you? The main thing is that if you’re interested in any of this, or think you will be in the future, please don’t hesitate to reach out to us. Our consultation services are completely free.
Simply contact us, and we will get to work on an in-depth report and promptly follow up with you. We are always happy to have a discussion about the market as a whole and your specific needs and questions.
Alternatively, if you’re not looking to have a long conversation, it can be as simple as a quick text or email to answer a quick question. The bottom line is that whatever your real estate question is, we are ready to help you out. Please don’t hesitate to contact us!