Do properly priced homes sell quickly in your market?

What is your definition of "properly"?

What is your definition of "quickly"?

J

Kind of a loaded question. If the purpose is to sell the home quickly, you price it appropriately. If by "proper" price, you mean around market price, then yes, they are selling quickly in my area.

"properly priced" is also quite relative in this market. There are plenty of VERY properly priced homes sitting, and not even being shown. That then, by definition, could mean that buyers don't think the prices are so proper.
--A

It seems to me that a properly priced home sells quickly. That is what makes it properly priced.

Or rather, a properly priced home sells in an appropriate amount of time for the market it is in. So, if the average days on market in that area is 30 days and it sells around there... then it's properly priced.

R

Not always...I have seen properly priced home, shows great is still on the market.

If it is still on the market, I would argue that for whatever reason, it is not properly priced.

By my definition, a properly priced home will sell in the usual amount of time for that market.

However, I would say that there is some room for discussion on this if there are just not any buyers in your market.

There are some sub-markets that on occasion just do not have buyers in them for a period of time.

An example: Over 55 year old buyers looking for senior community in which you own the land your mobile home stands on. Believe it or not, this is actually a sub-market in Scotts Valley, CA. A very profitable one. However, there can be times when there are simply NO buyers. This can go on for several months at a time.

In those cases, nothing sells at ANY price until a buyer comes along.

By the way, homes in that market are currently selling for 500k...its nuts.

R

over priced homes sell quickly in our market. Market priced homes don't come up for sale, they come up sold. Down side is that a chronic shortage of listings has many Realtors looking for alternate income.

Properly price, sell quickly - what's that!

Scenario - small town, mid-America, primary industry - automotive (Delphi, Chrysler)

According to the tax records there are close to 45000 taxed parcels in the county. That would include farm land, multi-family, lots, commercial/industrial and single family dwellings. Right now there are 1024 active single family MLS listings plus, I would guess, another 200+ FSBOs. In May, 110 homes sold (according to the MLS).

Homes in the $75-100K range were the quickest sales (ave. 88 DOM). Everything else is languishing! "Well-priced" homes are not even being shown. As Robert said, sometimes there just aren't buyers!

Once Delphi works through it's bankruptcy and union contracts, I know we will see a definite change in the market. What that will be is any one's guess. We could see double the number of homes for sale and half the buyers. Or we could see a positive resolution and a pent-up demand for homes.

So... to answer the question, some well priced homes are selling quickly. Others aren't even being shown. When serious buyers have 100 homes in their price range, they and their agent tire before they can view every home on the market and can be very choosy about everything from the color of carpeting to the landscaping, etc.

Now, if I can just hang in there for a while longer...

Betty

Is there a market that can be addressed so broadly. Fairhope Real Estate is moving well, moving slowly, and not moving at all. If you've priced your home poorly, you're hurting. If you've priced it well, then it has to do with your price points. Below $220,000, we're moving well. In the $400,000s, preperties are moving. If you're in between, you're either taking a discount or you're waiting for this midlist range to correct in price and find its market.

yes property sell quickly !

The israeli market is good in 2006 !