Here’s a quick update on what’s happening in our real estate market.
Since this seller’s market is so competitive, we’ve seen a lot of homeowners who’ve been overpricing their properties. Unfortunately, they believe that by pricing high they have room to negotiate. We are constantly reminding sellers that the right strategy in this market is to price closer to the market and create a competitive situation.
You’ll see the most traffic in the first two weeks on the market. The following two weeks usually see a 50% drop. Traffic drops by 50% again after another two weeks.
Needing to chase the market down to capture buyers who were initially looking at your property can be a problem. If you’re selling your property, we highly recommend pricing it at market value or a little below it. That will help get multiple offers on that property and sell it over the asking price.
If you have any questions, don’t hesitate to reach out to us. We’re here to help you reach your real estate goals.