The Formula For a Faster Sale: Yesterday’s Price - Market Adjustment = Faster Sale

 My mom used to watch Days of Our Lives every afternoon when I would come home from school. Although I haven’t watch a Soap Opera for years, I can still here the music and the announcer’s voice over “Like Sand through an hour glass….these are the days of our lives”

For many home owners having their property listed may seem as painful as watching grains of sand slip slowly through the hourglass…..day after day living life outside their regular routine; making the beds every day, (yes, some people don’t make their bed every day!) keeping the dishes out of the sink, the dog in the laundry room…whatever the hoops they need to jump through may be. The fact of the matter is, if you want to sell now, you have got to price your home aggressively and if it doesn’t sell, be prepared for a price reduction.

In my market area, of the 29 stick-built homes with sales pending, 75% made at least one price reduction after the initial list price. These homes were on the market an average of 124 days.

Compare that to the 25% which came on the market at a relatively aggressive price, never reduced and sold in an average of 22 days.

The name of the game today is PRICE. Buyers must have a reason to buy your home, over the dozens of others on the market today.

Let’s see, make the bed 124 days in a row or 22 days in a row and still end up at the same price?

Seems like an easy choice to me!