If your house has been sitting on the market for a couple of months with zero interest, it may be time to cut your asking price. Let’s say you’ve had a handful of showings since your home has been on the market, but you haven’t gotten any offers. Could it be the purple carpet in the family room or the lime green kitchen countertops? Maybe. But more likely there haven’t been any offers because your price needs to come down. Some experts say if you’ve had 10 showings without an offer, your home is probably overpriced.

However, don’t lower your price in small increments. If you’re going to bring down the asking price, you need to lower it by at least $5,000 to catch the attention of prospective home buyers.

Of course, it’s much more effective to get your asking price right the first time around. If your home has been on the market for many months and you keep lowering your price, buyers may assume there’s something wrong with your house.

SOKOLICH REAL ESTATE can assist you in setting a competitive asking price from the start. Contact us for more information about how to set the appropriate price or request a free home evaluation below.

Request a Complimentary Comparative Market Analysis (CMA)

 

BACK