Listing/Selling Price > The Asking Price
Your house has been on the market for four weeks. There have been a lot of showings but no bites, so you are wondering if you should consider a price reduction. You want to get as much as you can for your home, but more important, you want it to sell!
This may be the time to have a frank discussion with your Realtor. While price may be a major factor, it may not be the only consideration. Are you making your house easy for agents to show? Have you completed the necessary maintenance and cleaning so that your property is as appealing as possible? Review with your agent the current market conditions and the prices of other homes in your neighborhood before determining that a price reduction is in order.
Even though your price may be competitive, the marketplace may be telling you that buyers just won’t pay what you would like to get. If all indicators point to a price reduction, it is better to do it sooner rather than later.