Many (Most) Home Sellers Are Adjusting Their List Price If Their Home Is Not Under Contract Within 30 Days


Many (Most) Home Sellers Are Adjusting Their List Price If Their Home Is Not Under Contract Within 30 Days
By Scott Rogers • September 28, 2023
Here's how I get to the conclusion above... Today, there are... 200 homes for sale in Harrisonburg and Rockingham County per the HRAR MLS. Of those 200 active listings... 116 homes have been on the market for 30+ days. Of those 116 listings that have been on the market for a month or more... 65 homes have seen a price reduction in the past 30 days. So, yes, it would seem that many (most -- 56%) home sellers are adjusting their list price if their home is not under contract within 30 days. It makes sense... If a buyer hasn't made an offer, a price reduction may... 1. Cause existing buyers to reconsider your home. 2. Cause a new buyer consider your home for the first time. 3. Cause a buyer who has viewed your home to make an offer. Should all home sellers reduce their list price after 30 days on the market? Not necessarily. Should it be a discussion about the merits of making such a price change? Absolutely! Receive Updates by Email Recent Articles: Will Your Offer Terms Cause The Seller To Say YES Or To Seek Other Offers? The Comfortable Feel Of An Established Neighborhood Might Come With, Surprise, An Older Home That Needs Some Updates Home Sellers And Buyers Will Often Disagree About Needed Updates You Cannot Hear Traffic On A Nearby Road By Looking At Photos Last Call (Just About) For Selling Your Home In 2024! Sometimes An Offer Is So Strong A Seller Will Not Wait For Other Imminent Offers If You Will Be Moving To Sunnyside, VMRC Or Bridgewater Retirement Community, We Should Talk Sooner Than Later Sometimes It Makes Sense To Just Adopt The Timetable The Seller Prefers Fewer And Fewer Resale, Detached, Homes Selling In City Of Harrisonburg The Next Owner Of Your Home Might Love Different Parts Of It For Different Reasons, And That Is OK!
Have any questions? Contact Scott Rogers at 540-578-0102 or scott@funkhousergroup.com
Based on information from the Harrisonburg-Rockingham Association of REALTORS® or its MLS, for the period Jan 1, 2000 through Nov 01, 2024 (unless otherwise noted).
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