An agent I know who's having a hard time selling one of her listings that's priced at about $2.0mil, asked me to stop by today and give her my opinion of the price.
Happy to do that I went on over. But before I looked around the house I told her I knew what the problem was and why it hadn't sold.
It's simple, I said. The problem is that it's priced comparably to other similar homes. yes it is, she said, but why is that a problem,
well, because there are 50 homes for sale in this price range in the Tucson Foothills
and just 5 have sold in the last 6 months
So at best, each month your listing has a 1 in 50 chance of selling.
Those are your odds. Will you get lucky this month, next month or a year from now. Who knows.
So forget about comps and comparably priced, competitively priced and all that other jazz. That doesn't count anymore, because less than 1 home/month is selling in that price range. And that's what counts above everything else.
And the only way to improve your odds is to be much more attractive than the competition. And the only way to do that is to price it way below the competition. I suggest 15 to 20% below.
Then you might have a chance. So either do that, or wait around until you get lucky. That's the market we're in in that price range.
and see my web site thefoothillsToday.com
to search for and learn more about Tucson Foothills Homes