Expensive Price Points Equal Price Reductions

Zillow has reported an uptick in price reductions throughout the country. Compared to this time a year ago, over two-thirds of the country’s largest metropolitan areas have witnessed price slashes. June saw 14% of its listings undergo a price cut. While it may seem that these price reductions indicate that home values are softening, these reductions are concentrated in markets with the most expensive price points.

So, what does this mean for you? If you’re selling a property, remain realistic and conservative about your selling price point. Many sellers have set their prices in the hopes that an eager buyer will pay any price to obtain the property, but that strategy may not hold as true in today’s market anymore. My experience and knowledge can assist you with pricing your property correctly.

If you’re looking to buy, now may be a great time. There are more homes available to choose from and sellers are being more realistic in what they will accept. Whether buying or selling, you can trust that I’m doing my research to ensure that your purchase or selling price aligns with today’s market.

If you’re thinking of selling, contact me today and receive a no-obligation comprehensive market analysis to see what your current property is worth!

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