I’ve been on the market for 15 days with 12 showings and two open houses, but I haven’t received any offers and there hasn’t been a lot of interest. Most feedback I received was related to the layout or location, which is a bit odd, but generally people said it felt priced right. However, two of the 12 showings indicated that the price felt too high. My realtor suggested reducing the price either by $10k or $25k. I decided to go with the $25k reduction because I really want to sell this house and be done with it. Is this a bad idea? My realtor mentioned that the market has slowed down, especially with the holidays coming up, but also just in general. We’re located in a Midwest suburb, if that helps provide context. I don’t feel comfortable sharing the listing here.
Reducing the price by $25k could definitely attract more interest, especially if the feedback indicated that some felt the price was too high. It’s better to sell sooner rather than later, especially in a slowing market.
In my experience, pricing competitively is crucial, especially with the holidays approaching. A larger price drop might help you stand out more.
I think it’s a good move. If the feedback is that it feels priced right but some think it’s too high, it might be worth adjusting to get the right attention.