Homeowners often ask me, “When do I reduce the price of my home?”
In today’s hot seller’s market, many people listing their homes become anxious when their property isn’t moving as quickly as they might have hoped.
Thankfully, there are some guidelines you can look to that will help determine when it’s actually the right time to reduce your price.
In a fast-paced market, you should wait about 21 days to reduce your price. If you don’t have offers in your first three or four weeks, it’s time to reposition the property. Sometimes, all it takes is moving your home to a different “shelf” of the market. Your home needs to be visible to the right buyers.
Another indicator is the number of showings your home has been receiving. If you’ve had 10 showings and no offers, then the market is telling you that you need to adjust your price.
If you have any other questions or would like more information, feel free to give me a call or send me an email. I look forward to hearing from you soon.