Monday, September 28, 2009

Right-Pricing: List Price vs Sales Price

Yesterday our colleague and good friend Dru Bloomfield wrote a terrific post comparing sales prices with list prices, and what can happen to sellers employing various pricing strategies.

A couple of highlights:

  • “On September 25 the percentage for all areas & types within the ARMLS database hit 97.01%, exceeding 97% for the first time since September 4, 2006. This is a very positive sign. The number has been rising rapidly since hitting a low of 93.82% on February 5, 2009. The highest reading was 99.54% reached on June 5, 2005.”
  • “Savvy sellers know they can get a lot of attention with what may seem like an aggressive price.”
  • From first-hand experience, a high-priced home listed $100,000 below the neighborhood comps and received multiple offers within the first week!

I couldn’t have written this post any better, so I’m encouraging you to click over and read the whole article on Dru’s site.

Your thinking, “yeah, what she said” Realtor,

Chris Butterworth