Alot really depends on the location, current price above market value and condition. If you have any question real estate related feel free to hit me up. Looking to take your business to the next level? If so lets due lunch sometime at Keller Williams your business thriving makes OUR business thrive. Thank you
Keller Williams Realty
Real Estate Consultant 3x US Army Vet.
Most of the time, it yields positive results.
Before reducing the price, I go through full out CMA to see where the trend is, then I might reduce (or increase) the price.
If the starting point was too high, though, then 2-3 weeks is fine to adjust into a better marketing position price-wise.
Hope this helps,
Beachfront Realty, Inc.
CDPE - Certified Distressed Property Expert
It really depends on a number of factors. Are you getting showings? Are other homes selling? Are you getting offers, but they are all low? Are there new comparables on the market undercutting your price? Were you priced competitively to begin with? Are there other factors holding interest back like condition, location or showing restrictions?
I may drop price in a week or stay at the same price for several weeks depending on the answers to these questions, my seller’s motivation and the trends in the market.