The percentage of Sellers that needed to reduce their list price reached a new high at 53% of all transactions in 4th Qtr 2008, indicating a continuing high level of Buyer price resistance in the current market.  However, if a home is priced correctly when originally listed, 2008 statistics show that the home will sell in 31 days for 96.5% of the original list price. 

A good thing to know is that only 27 out of 100 homes will sell…period.  The other 83 just won’t sell…at least not anytime soon – this is the standing inventory you see day-in and day-out which is crowding the market.  Only 7 of those 100 homes will sell in less than 31 days and for 96% of the list price.  This shows that clearly it’s a tale of 2 markets:  It’s always a Seller’s Market when it’s a great home at a great price and the reality is that there’s a lot of junk on the market, which creates a slighly inflated perception that it’s a full-on Buyer’s Market out there.

This is great news for the Seller who’s willing and able to get aggressive with pricing and be “in” the market, not “on” the market.  If you can get that price right coming out of the gate, you should be under contract and finally having the opportunity to find a fantastic bargain on your next home.  Since the Sales Price to List Price ratio reduces as Price Points increase, the math will work in your favor to sell and “move-up” into your next home, basically getting more on the Buy than you’re giving on the Sell…

If there’s anything we can do to help you or someone you know navigate the turbulence, please feel free to call or email us anytime…and visit us at KellySellsAtlanta.com for ALL your Metro Atlanta Real Estate needs.

This entry was posted on Thursday, February 5th, 2009 at 12:37 pm and is filed under For Sale, Foreclosures, Heady info, Price reduction!!, Realtor Services. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.