For the 13 months running through October 2010, for every 3 listings that sold another 2 listings expired without selling (please see chart below).
> 30-40% of San Francisco new home listings accept offers within 30 days of going on market. The sales prices for such homes are still, on average, slightly above the list price.
> Another 20% of listings sell after 1 or more price reductions. On average, they’re on the market for over 100 days before offer acceptance, and sell at a sales price to original list price percentage that is 10-14% lower than those homes selling quickly.
> And 30-40% of listings expire without selling, typically due to being perceived as overpriced.
How to get the best possible price:
1. Price it right to begin with.
2. Prepare the home to show in its best possible light.
3. Implement the most comprehensive marketing plan possible.
4. Hire an agent who knows how to negotiate effectively on your behalf.
5. The difference can add up to tens or even hundreds of thousands of dollars.
Broker Associate - DRE 1844627
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PARAGON REAL ESTATE
GROUP | 1160 BATTERY ST | SAN FRANCISCO CA 94111
All data from sources deemed reliable but subject to error and omission, and not warranted.
© Oggi Kashi, Paragon Real Estate Group 2010. All rights reserved.