Realistic Pricing Achieves a Quicker and Higher Return

Average Sold Price versus the Original List Price (OLP) tends to fall the longer it takes to sell. The graphs below for Montgomery County in 2011 show that homes that were on the market (Days on Market) from 181-360 days (teal color) sold on average below 90% of original asking price. While homes that were on the market (Days on Market) from 61-90 days (yellow color) sold on average at or above 90% of original asking price. This is consistent with our experience. Owners starting out with over-priced homes wait longer and get a sales price that is a much lower percentage of their original list price than owners who price for quicker sale. More realistic pricing may achieve a quicker and higher return than wishful pricing.

 

 

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Barbara Ciment, Realtor