Price Reductions Proliferate
In recent months there have been several reports of price reductions in some of the hottest real estate markets, such as Seattle.
This report shows the percentage of Single Family Homes (SFH) and Condos in Essex County which have experienced price reductions. In the 34 cities and towns in Essex County, 50% of the SFHs and 39% of Condos currently for sale have seen price reductions.
In a rising market, sellers will often try for “aspirational pricing”, meaning “I’d love to get XXXX”. It has been clear for some months that those days are, for the most part, in the rear view mirror.
Pricing a property at the realistic price rather than the aspirational one can speed up the sale process – without the need for a price reduction.
If you are thinking of selling, talk to your Sagan Harborside Sotheby’s International Realty agent and set the price correctly the first time.
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