"Why is my condo not selling?"
Michael, that is a very legitimate question for which there IS an answer.
As you noted, other units are sellling, but yours has not.
When your condo was listed with a REALTOR, a market analysis was completed.
The analysis revealed what other units are selling for.
What the condition of those units were.
The situation of the sale.
Any adjustmetns or consessions involved.
The volume of sales.
The 'sweet spot' regarding price and condition.
Did you price where the DATA indicated?
Has the proper amount of time passed to assess the results?
Now, an analysis of the REALTORS marketing must be completed.
If the 2nd level respones exceed the projection, (10 times sales) that means the marketing is reaching the active buyers. More marketing will not make a difference.
Since the active buyers have seen your condo and have not made a purchase offer it absolutely means it is not within value bracket of the buyer. The buyer has rejected your condo. They may be waiting for a correction or an entirely wrong population is being reached.
Do an objective (not subjective) review of your condos attributes and do what ever is needed to make it competitive.
Best of Success,
Annette Lawrence, Broker/Associate
Remax Realtec Group
Palm Harbor FL
Move to the Front of the Line