Sellers Are Often Making Price Reductions In A Matter Of Weeks Not Months


Sellers Are Often Making Price Reductions In A Matter Of Weeks Not Months
By Scott Rogers • May 16, 2024
Most segments of the local housing market are moving very quickly these days. Many homes are going under contract in a matter of days and not weeks. As such, the market is essentially giving feedback to home sellers very quickly as well. If your home goes under contract in the first week -- success -- you likely prepared it well, priced it appropriately, marketed it thoroughly and likely negotiated a favorable contract. If your home is not under contract after two or three weeks, any number of things could be going on... 1. You might not have prepared the property well enough. 2. You might not have priced the property appropriately. 3. You might not have marked the property thoroughly. 4. You might be selling a property for which there is a very small pool of likely buyers. Because the market is giving feedback to sellers so quickly (Did your house go under contract? Or not?) many home sellers are thus making adjustments very quickly as well - and if the home preparation is solid and if the marketing is thorough, then many home sellers find themselves considering a price adjustment. These days, it is best to price your home perfectly from the beginning (if that is even possible) but if it is not under contract within a few weeks it is better to go ahead and make a price adjustment now rather than waiting a few months. Receive Updates by Email Recent Articles: There Are Plenty Of Types Of Houses That Exist That Just Are Not Available To Purchase Home Sales By Price Range In The City Of Harrisonburg Are You Compromising On Aspects Of Your Next Home That You Can Or Cannot Change Later? How Much Slower Are The Winter Months In Our Local Housing Market? Rockingham County and New Home Sales Drive Surge in Area Housing Market Find The Balance Between Optimistic And Realistic Home Pricing Room Size Is Difficult To Understand Solely From Real Estate Photos How Much Would You Value Not Having To Prepare Your Home For Showings? One Out Of Four Homes Is Taking Longer Than A Month To Sell Consider The Cost Of Your Planned Renovations When Planning Your Offer
Have any questions? Contact Scott Rogers at 540-578-0102 or scott@funkhousergroup.com
Based on information from the Harrisonburg-Rockingham Association of REALTORS® or its MLS, for the period Jan 1, 2000 through Nov 21, 2024 (unless otherwise noted).
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