Just had one of our investors call to tell me he has sold the property we staged and we can come remove the furnishings. In the last 2 weeks we've had 3 listings sell (go under contract) and a fourth has an interested buyer. The first property went under contract in 7 days, the second in 29, and the last in 76 days. This is a good sampling of Colorado Premier Staging's average days on market (currently under 39).
Why the disparity in days between properties? Good question but one that I will just have to speculate about. Each of the properties was flipped using great finishes; granite counter tops, stainless steel appliances, hardwood flooring. Each of the properties looked great after staging. Each of the properties were properly priced for the neighborhood. However, the property that sold in 10 days was in a beautiful, mature neighborhood where the home owners maintain their properties. It is in an above average income level neighborhood and it has home owners that have been there for some time. It is close to great shopping and entertainment. The second property that sold in 29 days was also in an established, mature neighborhood. But, it was in an average income level neighborhood. The properties were still maintained but not nearly as well as the first property. The homeowners in this neighborhood are slightly more transient; the homes turn over more often. The final property, the one that took 76 days to sell is in a lower, below average, income area. The neighborhood is an older mature neighborhood where there is a higher level of rental properties. Home turn over is much higher than in the other two neighborhoods. The homes and the yards are not as well kept and in some areas, not kept at all. Homes are close to shopping and entertainment.
So, does this make the difference between selling in 10 days vs 76 days? Maybe. Based on those 3 properties it would make sense. But...Let's add the 4th home to the mix.
This is a beautiful home in a well above average income neighborhood. The homes are eclectic with some being original 1920s/1930s/1940s and others being brand new "scrapes". The neighborhood is a fairly well maintained, mature area near an expensive College, with plenty of shopping and entertainment. There are just a few homes here and there that aren't as well maintained as they should be. Home owners in this area don't leave. The home was well priced for the neighborhood when originally listed and now, after 2 price drops, is a bargain. This home has been on the market for 94 days staged and 30 days prior to the staging. There has been plenty of interest as far as showings but until last week no offers whatsoever.
I'll be honest, I'm at a real loss! Have any of you got ideas on why these do or don't sell? Is there a common thread? What have you seen it in your experience? I'd love to hear your opinions.
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