your area end up dropping instead of rising, you may lose money. The metric I always default to is 10 showings in 10 days. A new home in a "normal" market, meaning a relatively "even" market with respect to buyer demand and seller inventory should get one showing per day, or an average of 10 in 10 days. If your home isn't getting the proper traffic, and all of the other marketing has been done correctly, this may be indicative that you are overpriced and a decrease is needed to make it more in line with demand. Bottom line: By pricing your home based on current market values, you can sell your home more quickly and for more money.
PRICE DROPPING
Another pricing trap to avoid is insisting on a high price for your home, far above other homes in the area. I believe the average days it is taking a home to sell across the country presently in 2023 is 85 days. This number implies that the property should go under contract within 50 days, and settle within another 35, on average. If your home is on the market and still does not sell after three months, you might decide it is time for a significant price reduction, or to remedy some of the items resulting in negative feedback. While not all agents take the time to provide feedback even though ethically they should, when they do it is critical to pay attention to it. Do not take criticism personally, they and their buyers are not insulting you. Rather, they are objectively stating the visible detriments of your home. With this information you can hopefully make a few small changes and remediate the items causing this response, as undoubtedly, other buyers will feel the same way. If the market in your area is declining as a whole, and macroeconomic sentiment is declining, you may be forced to reduce the price even more in order to catch up to the falling market. However, with a good marketing plan and correct pricing based on data rather than emotion, this shouldn't be an issue. Bottom line:
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