When To Lower Listing Price

Here is something you should consider when debating the great price chop. Above all else, you need to consider your market.  There is no universal timeline that will tell you when to reduce your price. But Malow says to consider these three key points :

* How are comparable properties faring in the market ? Are they selling quickly or lingering on the market? If they have closed, and what was their closing price.

*What is the average time a home stays on the market in your neighborhood? If you haven’t reached that point, don’t reduce it just yet . Likewise , if you are well hood’s “sell-by-dare,” it is time to start cutting prices and maybe even delisting your home.

*How many homes had a price reduction in your neighborhood, and how long did it take for the price cut ? Did it help them sell ?, Again what the sale price