That depends on the nature of the seller. I assume your question is really targeted for non stressed re-sales. In the Ellerslie area, of which I spend a lot time, my educated guess would be about 30-40% go to close over the past 2 years. That sounds bad, but the National Average is 20%.
If the home is bank owned, then typically the answer is 100%. They will continue to reduce the price of a home until someone purchases. The same can be said for new construction. Even if the builder goes bankrupt and the bank takes owenership, the bank will end up selling the home to someone.... more