Priced 4% Too High: What Two Middle Tennessee Listings Taught Us About List Price

Most of the homes I sell move fast. Across 235 closings since 2014, the median time on market is 9 days. Two of my listings didn't, and they taught me more than the quick ones did.

Both homes sold for about 4% under their original list price. That gap is small. The time it took was not: more than five months each, with mortgage payments, utilities, and upkeep running the whole time. What finally moved both homes was the same combination: a price adjustment and a stronger marketing push.

Here's the pattern. Buyers watch new listings closely in the first two weeks. A home priced a little above the market misses that window. Once it sits, buyers start asking what's wrong with it, and the eventual offers usually land close to where the price should have started.

What I tell sellers now

• Start at the price the recent sales support, not the price you hope for.
• The first two weeks bring the most buyers and the strongest offers.
• A small overprice can cost months, and months cost money.

Want a list price backed by recent sales on your street? Call me at (615) 585-0022.

Source: Realtracs MLS, closed sales.