Winning Strategies in Real Estate: House Hasn’t Sold Yet? Take Another Look at Your Price!

House Hasn’t Sold Yet? Take Another Look at Your Price!

If your house hasn’t sold, it is probably because of the price.

The residential housing market has been hot. Home sales have bounced back solidly and are now at their second highest pacesince February 2007. Demand has remained strong throughout the summer as many real estate professionals are reportingbidding wars with listings actually selling above listing price. What about your house?

 

If your home is on the market and you are not receiving any offers, look at your price. Pricing your home just 10% above market value dramatically cuts the number of prospective buyers that will even see your house. See chart below.Price Pyramid

 

Tony Morganti, CRS, ABR

330-352-9513

Comment balloon 3 commentsTony Morganti • July 30 2016 08:31AM

Comments

Tony  - very appropriate except in markets where properties sell so fast there are multiple over-asking price offers.  Great post!

Posted by Sharon Kolb, Broker - Atlanta Decatur Homes (Atlanta Decatur Homes) almost 2 years ago

This is very good information for prospective home sellers.

Have a most productive summer!

Posted by Roy Kelley, Roy and Dolores Kelley Photographs (Realty Group Referrals) almost 2 years ago

Hi Tony Morganti!

Thanks for a great post about pricing and the consequences of over pricing a listing!

We like your writing style!

We wish you great success with your blog posts and networking with other members of Active Rain!

We clicked the “Follow” button on your profile so that we will be alerted to your future blog posts and can read and comment on them, and we invite you to "follow us" - should you be interested. There is no requirement or obligation for you to do so, but we would be honored if you choose to do so!

Posted by Tony and Suzanne Marriott, Associate Brokers, Serving Scottsdale, Phoenix and Maricopa County AZ (BVO Luxury Group @ Keller Williams Arizona Realty) almost 2 years ago

Participate