Amid the swelling inventory of homes available for sale- if a home hasn’t sold in the first 21 days, the seller’s prime opportunity to get their pricing has passed.
As a rule after the first 21 days, the seller had many showings, but no offers, the price is probably within 5 percent of the market. If after the 21 days there are few or no showings, the price is most likely at least 10 percent or more over market.
Most buyers will offer 5 percent under the asking price without offending the seller, but very few will offer 10 percent or more under the asking price. Buyers and their agents tend to forego looking at property 10 percent or more overpriced.
Pricing a property correctly is not a science…pricing is based on past sales usually within the last 3 months (not ”Pending Sales” or homes in escrow) true sales, condition, location and availability of similar homes. Supply and demand still applies.
An agent who is familiar with the market isn’t enough, the agent has to be familiar with the micro area… the little details that every area has, along with the above information, in order to properly price a home. Pricing a property to sell may not be a science, it may not be an art, it is a necessity in these challenging times.
Do you want to be on the market? Or IN the market… I vote for IN.
Happy Sales!
Susie Nancarrow











