I suggest that you ask your Realtor.
If you Realtor does not know....I would be concerned.
Here are some tips that are probably going to give you something to think about:
We expect 10-12 showings or one offer in the first two weeks on the market. If we don't see that, then we will lower the price.
We know that most homes that sell in the first 39 days on the market will sell closest to asking price. IN my market that means 100.3% of asking. At 120 days they sell for 92.7% of asking price. So 20% of homes are selling within 30 days, and 80% sell at whatever time it takes...some homes take a year to sell.
So if I were selling a home, I'd ask my Realtor to meet with me each week and show me the market activity
listings that lowered their price
homes that entered escrow
homes that sold
homes that expired.
The average buyer looks at 12 homes before they buy , I'd ask my Realtor to tell me which homes represent my primary competition, and go over and see them. Make notes. If ANY of those homes sold before mine, I'd want to know why.
Hope this is helpful. If you need more help, contact me via my Trulia profile.... more