If your home hasn’t sold yet, it’s probably priced too high.
We are in a residential housing market that is hot. Home sales are are going strong. The demand is outpacing the available supply. And many homes or having bidding wars with multiple people trying to buy the same house.
But if you’re hasn’t sold, why not? If you’ve done everything right, the house is as neat and clean as you can make it. Whatever repairs may be necessary that you can do have been done. You did your best to give it a good curb appeal. Ii’s listed in the multiple listing with pictures that showcase the nicest points of the house. It’s advertised on multiple websites. You have lawn signs. Your Realtor has had open houses, both public and for Brokers. In other words, everything is being done right.
But if it hasn’t sold, it has to be something. If this is the case with your home, you’re probably priced too high. Doesn’t matter how hot the market is, people will not overpay for a property.
So what can you do? I hate to say it, but it’s time to reduce the price. And the longer you wait as we head towards the end of the summer, the more you’ll have to reduce it in the fall.
Speak with your Realtor about reducing the price. Think about reducing it now and try to salvage the best that you can.