This isn’t rocket science, but I love it when real world data lines up with our common assumptions.
Higher Asking Price = Longer Time to Market
I was doing an analysis for a listing and sorted the data by original asking price. The higher the asking price the longer the homes were on the market… it isn’t a 100% correlation but it’s definitely a trend.
Another trend is that the longer a house is on the market the more discounted they tend to get from original asking price.
The Right Price
Accurate pricing is so important in this market. Get the knowledge you need and use it to make good decisions.