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Price Reductions & Pricing Right!

In a recent survey by ShelterZoom, 1000 consumers were asked about how soon they would be willing to reduce the price of the home if they had not receive an offer. Here are the results:

  • 20% would reduce price within 1 month

  • 33% would reduce price after 3 months

  • 17% would reduce price after 5 months

  • 12% won’t Sell for less than they listed

The largest number of potential buyers will view a newly listed home within the first 14 days on the market, and the number will decrease as the days on the market increases. This pool of buyers includes home buyers just entering the market and, more importantly, buyers working with Realtors® who have already seen the existing inventory and have not found a home, making them eager to make an offer.To take advantage of this increased level of traffic and buyer interest, your property should be priced to sell at fair market value, from the very start.

Source: Housing Wire - July 8, 2019 & Coldwell Banker Moxi Presentation

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