As we approach the holidays we’ve reached another juncture where home sellers should seriously consider their motivation to sell. If their motivation level is high then, unless showings are steady, a price adjustment is paramount. A statistical chart such as the one below gives a seller a broad perspective on activity in their particular marketplace.
Number of Sales Over the Past Six Months
Price Band # of Sales Sales Per Month
$500K – $599K 35 6
$600K – $699K 30 5
$700K – $799K 22 4
$800K – $899K 17 3
$900K -$999K 11 2
$1M – $1.25M 12 2
$1.25M – $1.5M 9 1.5
$1.5M – $2M 8 1.5
$2M – $2.5M 6 1
$2.5M – $3M 2 .33
$3M – $3.5M 2 .33
$3.5M – $4.5M 2 .33
$4.5M – $5.5M 2 .33
It shows the number of sales within a specific price point over the past six months in whatever town the property is located. It then breaks down the number of sales per month. It’s an effective way in which to provide the homeowner with information that will be helpful for them in determining just what the possibilities and expectations can be for them to achieve a sale.
Something to think about on Monday should another weekend pass without an offer to present to the homeowner.
How effectively do you use statistics to help your client decipher the market?
What other approach do you use?
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