What percentage of conditional deals fall through? (and other questions answered)

Percentages

Statistics are interesting. They don’t tell the whole story but often they will help illuminate trends or dispute other statistics or dispel myths and commonly held beliefs. I always look at statistics (and percentages) with trends in mind. 

So with that in mind, time to drop a statistics bomb on you. 

 

95% of conditional agreements firm up

Q: What percentage of conditional deals fall through?

A: I don’t think anyone has ever tallied how many conditional offers don’t make it through the conditional phase but my experience is that once a conditional offer has been accepted, the chance of the sale happening is over 95%. Results may vary with realtors, other cities…

77% of us have good neighbours

Q: What are the attributes of a good neighbour? 

A: The best neighbours are trustworthy, quiet, friendly, and respectful. The worst neighbours are disrespectful, loud, untrustworthy, nosy, messy, and just generally unfriendly. A recent survey revealed that 77% of us have good neighbours. 

30-40% prefer urban over suburban

Q: Is it true that people prefer living in the suburbs or do they live there only because thats where the houses are?

A: There was a song in the 1970s that went, “if you can’t be with the one you love, love the one you’re with”. This question a bit like that – chicken and egg. A recent study of Boston and Atlanta revealed that roughly 30-40% of those surveyed said they preferred denser, more pedestrian-friendly urban neighbourhoods, where as about the same preferred auto-oriented neighbourhoods. 

29% price reduction for smoking

Q: Will smoking reduce the sale price of my home?

A: Yes. Smoking and other bad smells (pets, damp basements) really reduce the value of homes. According to this article, smoking can reduce the resale value of a home by as much as 29%.

11-12% price drop for living near a cemetery 

Q:  Are houses cheaper near cemeteries? If so by how much?

A: This study indicates that homes near cemeteries are between about 11% to 14% cheaper. 

Leave a Reply

Your email address will not be published. Required fields are marked *