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The residential housing market has been hot recently. Home sales have bounced back to their second-highest price since February 2007.
As we approach the winter, many agents report an increasing amount of multiple offer situations. Listings are sometimes selling above listing price. If your home hasn’t sold yet, take another look at your listing. It could be the price holding buyers back! Increasing a price by 10% can dramatically reduce the amount of interested buyers interacting with your listing.
The bottom line: the market is hot. If your listing isn’t getting showings despite active online activity, sit down with your agent. You could be over by up to 12%. Revisit the price. At Rector Hayden, we use “the price on target” model to determine how much to price your home.
Feel free to contact us about a free consultation. If you have any questions, give us a call!
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