Homeowners are often tempted to set the initial list price higher than fair market value because they think they can simply lower the price later if the property doesn't sell. Most people don't realize, however, that setting the price too high in the beginning can drastically increase the time it takes to sell and typically achieves a final sale price that is well below market value.
The higher the list price, the more buyers will automatically exclude your property from consideration. By pricing your property at fair market value, you increase the number of potential buyers.
A listing generates intense interest during its first two weeks on the market, but activity drops off by more than 80% in the third week and beyond - subsequent price reductions notwithstanding. A property that is priced too high will not get the necessary attention during this critical period of peak activity.
Buyers are wary of price-reduced property, thinking something might be wrong with it or that it may still be priced too high.
Real Estate Specialist
Serenity Home Team
"Making Dreams Reality"
The photos of your home and listing writeup are well done!
You have a lovely property.
You may want to visit with your listing agent about the average number of days properties in the neighborhood
are on the market before selling.
We're coming up on the busiest real estate season. At this point holding steady is a good plan.