In: Real Estate News18 Jan 2011
It seems like everyone is curious about real estate. Specifically everyone wants to know the selling price of the home up the street . Home owners, sellers and buyers are all interested in this information because home values affect all the other values of homes in the neighbourhood (Home values are usually based on comparing recent similar home prices).
Lets examine at how a buyer or seller can find out how much a real estate listing (home, house, or condo) sold for. The first information that you need to know is whether the property (or properties) were sold on MLS in Canada or Privately (for sale by owner) or through a builder.
Land Registry Offices:
All properties Sold Prices in Ontario (or other provinces) are registered in the Land Registry Database. This is the largest database of home prices and these databases include MLS sales, Private Real Estate Sales and Builder Sales. The Land Registry databases also include all title transfers (for example between spouses in a divorces) so they contains a lot more information than selling prices between buyers and sellers. Homes are only registered here on the date that they are transferred (move-in/out date). This differs from real estate agents who record the sold price when the deal is negotiated.
The local land registry offices are located here. The land registry usually charges a fee per sold price. They also typically do not provide a list of all the recent sold homes. You need to specifically choose one home and ask for that information.
MLS Sold Home Prices
The second largest database would be the local Real Estate MLS database owned by the local real estate board(s). For example, the Toronto Real Estate Board has all the sold prices of homes sold by real estate agents in the Greater Toronto Area. If a home was did not involve real estate agents (FSBO, Builder), it would not be listed in the Toronto Real Estate Boards database. Other real estate boards (Niagara, Hamilton, London, Kitchener, Windosor…) would all keep a database of all their MLS home sales.
If a member of the public wants to get access to MLS sold prices they would need to contact a real estate agent. The question is whether a real estate agent will provide this information without being under contract with the person. Real Estate Agents are able to access Sold Home Prices very quickly and are able to generate reports that list all the recent homes sold in a neighbourhood. Real Estate Agents will usually show home owners the sold properties of homes in their neighbourhood when they complete a comparative market analysis.
For all of your real estate questions please call PropertySold.ca Inc. today at:
1-855-900-SOLD and speak to a customer service representative. We have licensed real estate professionals on staff ready to take your call right now. List your property for sale by owner today. New! We now accept real estate listings from real estate agents and new home builders & developers. More Information »
Real estate news in Canada including buy and sell information, local market updates, guides, tips for Canadians in the real estate market.