Even in a hot seller’s market homes can be overpriced. 66% of the homes that sold last year had at least one price reduction while they were on the market. On average 2017 home sellers got 99.6% of their asking price.
Most of the homes that were sold without a price reduction sold quickly but there were some exceptions like the home that was on the market for a year before it sold.
Properly pricing a house is more of an art than a science. Ultimately it is the buyer who sets the price.
Knowing when to reduce the price if the home is priced too high is priceless.
