In my opinion, the best way to get information for your area is to find an agent to get it for you. As a buyer, a real estate agent is free as their commission is covered by approx. half of the sales commission.I am thinking about getting into RE this year (as a place of residence). Before I get into anything, I try to do as much research as humanly possible though. So I am wondering how I would do research on these 2 topics:
- If I'm interested in a particular area, how would I find out the price history for a particular style of unit in that area? MLS doesn't appear to have an archive of previously sold homes.
Example: If I am interested in 1-bedroom condo's in the Davisville neighborhood in Toronto, I can see on MLS that the current market has them going for $240k to 250k. How do I find out how much those units cost a year ago, or 2 years ago, 3 years ago?
- The media says it's a buyer's market. How do I find out how much of an advantage are buyers really having? i.e. if units listed at $250-260k are actually getting negotiated down to 230k-240k how can I confirm that?
This is particularly relevant to me (for example) because while 260k is not viable for me, 240k is.