Serving Bellingham & Whatcom County
Serving Bellingham & Whatcom County
Coldwell Banker Bain
Tom DeRose :: Wireless: 360-220-9355 :: Email: tderose@coldwellbankerma.com

Pricing Your Home for Today's Market

Posted on October 14, 2009
I've written about this topic before. But this new data is so compelling that I am commenting on it again. This time, I am focusing on homes priced at or above $500,000 in Bellingham/Whatcom County.
 
                     DAYS ON MARKET (DOM)
 
When a home requires at least one price reduction, it takes, on average, 308 days to sell.
 
In contrast, when a home is "priced right"--does not require any price reduction--it takes, on average, 28 days to sell.
 
 
 
 
 
 
                        LIST TO PRICE RATIO (%)
 
When a home requires at least one price reduction, its sale price is 75% of its list price. That is, it sells for 25% less than its list price
 
In contrast, when a home is "priced right"--does not require any price reduction--its sale price is 94.5% of its list price. That is, it sells for 5% less than its list price.
 
 
This is a dramatic demonstration of the importance of pricing a home "right" for today's market. This is especially so for homes priced in the high end of the Bellingham/Whatcom County market.

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