Pricing Strategy in the 3 Market Condition
Inventory is low. Properly priced homes generally sell within the first month of listing. If you have not received an offer within this time period, it is priced too high.
Inventory is meeting demand. There is no perceived advantage to either buyers or the sellers. Properly priced homes should sell within 1-2 months.
There are plenty of homes for sale in every price range and area. Homes priced lust below other similar homes will usually sell within 2-3 months
Usually, in a Buyer's Market, home values are declining in this type of market so the sooner you sell, the better it is for you
- The listing price
- the level of motivation of both the seller and the buyers
- the marketing plan of the REALTOR
The things you can control are the initial listing price and your own personal motivation for selling the property. The REALTOR is responsible for implementing an effective marketing plan
- Are the benefits of moving important enough to you to price your property at market value?
- Is your understanding of the current market value of your home based on statistical data?
- Does it make sense for you to stay in the property any longer than you have to?
- Are you willing to consider pricing your home just below similar homes currently for sale?
- How long are you willing to wait for a sale?