Timely Price Reductions And Standing Out From The Crowd

Timely Price Reductions And Standing Out From The Crowd

I always wax nostalgic during late August and early September.  It reminds me of new school clothing and the excitement of seeing friends again. It also reminds me of renewal and new opportunities.  In real estate, it has a similar cycle, one of breaking away from the general malaise of summer into fresh opportunity.  Coming into September brings hope to sellers for a new batch of buyers and excitement to buyers for a new batch of listings, or at least listing reductions.

So, let’s talk about reductions and what happens during the summer in a typical year. We experience a slow-down in new listings and the market generally reflects the distractions of Summer. Sellers who had such excitement at the prospect of the Spring market may now become victims of the Summer. Despite possible signs of pressure on pricing they often hesitate because of lack of showings and the fear of making an unnecessary reduction.

The energy shift begins to take place in early August as sellers begin to think about having their home on the market during the holiday season and the countdown to of the end of the year.

September immediately becomes a popular month to reduce, resulting in an overload and the fight for attention.

So, we have two weeks before the crowd of reductions for those sellers who want get to the finish line before the end of the year.  Buyers are out there looking for value. They track the market and watch for the reductions that are significant and home prices that are compelling.

It’s easier to get ahead of crowd and secure the attention of your potential buyer by making reductions earlier. Why not be one of a few making reductions now versus fighting the crowd of adjustments that are about to take place in two weeks?

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