If Your Home Hasnt Sold Yet Check Your Price

If Your Home Hasnt Sold Yet Check Your Price

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The residential housing market in Charlotte has been hot -- definitely a seller's market! Home sales have bounced back solidly and are now at their second highest pace since February 2007. Demand has remained strong throughout the winter as many real estate professionals are reporting bidding wars with many homes selling above listing price. What about your house?

If your house hasn’t sold, it is probably because of the price.

If your home is on the market and you are not receiving any offers, look at your price. Pricing your home just 10% above market value dramatically cuts the number of prospective buyers that will even see your house. In Charlotte, Days on Market are your enemy.  In a strong sellers market, people tend to think there is something wrong with your home if it doesn't sell in the first 14 days or so.  Potential buyers are thinking, "Why hasn't it sold?" and are looking for problems.  This is NOT the state of mind you'd like potential buyers to be in when viewing your home. See chart below.

 

If Your Home Hasn’t Sold Yet… Check the Price! | Simplifying The Market

Bottom Line

The Charlotte housing market is hot. If you are not seeing the results you want, sit down with your agent and revisit the pricing conversation.  It is by far the most important aspect in selling your home.  With > 90% of home buyers starting their search online if you're even a bit overpriced they'll often skip on seeing your home in person (or worse, agents will show your home as an example of an overpriced home before taking their buyers to a well priced home).


Connie Massetti Headshot
Author:
Phone: 704-340-5967
Dated: January 9th 2017
Views: 130
About Connie: Licensed agent assistant who coordinates with McDonald Group clients and agents during all aspects o...

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