I hear that question almost daily , and i always answer with a resounding yes. Actually in the Cape May County market just from last Sunday 40 properties went to settlement. When you look at it from an inventory perspective that would be 3 1/3 years of inventory . That means it is crucial to price a home properly in this market or your chances of selling are extremely slim to none.
Unfortunately for a seller it doesn't matter if you have the special nails or the new roof ( which is actually 5 years old), buyers won't consider those things when comparing your home to your competition. And that is exactly what you have " Competition" .
I will always try and convince my sellers to preview some of the competing homes before they list theirs or while they are listed and have not received many showings. It can be a sobering reality check for some and others it flat out won't do anything.
Do yourself a favor if you plan to sell or have not sold in several months and you are currently on the market , re-evaluate your asking price by looking at your competition with a buyers eye. There are many buyers in the market right now but they are very particular and won't overpay . Now more than ever requires your utmost effort to listen to the actual market .
If your realtor hasn't done so ask for an updated CMA after 30 and 60 days . Good luck and just remember 40 owners just this week were able to sell their properties in this area. It pays to find out why and how!
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