Timely Price Reductions And Standing Out From the Crowd-Part 2

Our Spring market is definitely in full swing.

Buyers seem enthusiastic about open houses and are actively watching for reductions on properties. Sellers, for the most part, understand that the leverage is still with buyers and that pricing should be aggressive. In a few weeks, our Spring market will come to an end and we will slip into the slower pace of summer.

We have movement in the market right now. Inventory is high in some price points and low in others. The common thread is that the homes that are in good condition and look like value to the buyers are getting picked off. And, they are getting picked off quickly, with multiple offers. Other listings are sitting and sitting and sitting. Price and perceived value by buyers is the driving force to the market. Buyers immediately determine if a listing is overpriced or not. Overpriced listings are being severely punished in the market and being ignored. That’s the only buyer feedback that is meaningful to a seller.

We have a short selling season and now is the time to reduce to a number that is either in line or lower than the competing properties. Take advantage of what time is left and stand out from the crowd.


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