This data is representative of a portion of some statistics being compiled for a Seller. It could be for homes in nearly any price range. Here the range is $1M to $2M single family homes. The important feature that needs to be examined are the last three columns. Also, this is just a segment of the total activity which occurred in this price range. I would expect that the effect is similar no matter the location or the price point with only slightly varying results.
It could be argued that property becomes stigmatized simply by their days on market. If they're not sold soon enough prospective Buyers shun them thinking that many others have rebuked them for some unknown reason and they are not worthy to be included in their review. Look at the extremes here in the far right. DOM has a low of 15 days and a high of 635, price changes from none through five. Here's the kicker, percentage of original list price compared to the sold price ranging from 98.5% to 57.1%. This shouts out to me that properly priced homes sell much faster and much closer to the list price netting more in your poclet much sooner than later. For you superstitious types out there that wish to test the market with a buffer of some sort I urge you not to do so, especially today Friday the 13th, we are no longer compelled to use sorcery when obtaining and delivering information. Please listen to your Agent when pricing or you could expect to have not only a long wait to get your property sold but also a major reduction of your bottom line.
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