How long before a price drop?

[Anonymous]

With the market in DC as nuts as it is, especially in upper northwest, how long do you think a place could/should stay on the market before they drop the price? I know a lot has to do with the sellers' motivation, but just curious as what point you'd think it would make sense? A month?

[Anonymous]

Depends on when it went on the market. If a house just went on the market now I would give it a few months. It is going to slow down at this point. Just the time of year.

[Anonymous]

2 weeks.

[Anonymous]

Depends on if the house is being flipped or owned privately. Seems like the builders are more in tune to the market and looking to move on to the next project.

[Anonymous]

So if a place has been on the market for two weeks, do you think a lower offer had a chance?

[Anonymous]

I do. Many other factors to consider, of course, but if the list price is deemed reasonable based on comps, and there are no glaring issues, it will be under contract quickly at a bit under (within a couple %) or higher than, asking price.

[Realtor4you]

Motivation is key. If the home is selling within 30 days given the market conditions, you are likely over priced or the home has a deficiency, even if you can't recognize it as the owner. The question is, What is the feedback?

[Anonymous]

3-4 weeks

[Anonymous]

OP here. I am actually posting because I'm wondering if a place we like may see a price drop. It's been on the market a couple of weeks, and since we are not in a huge rush to buy or move, I was curious if the price may fall if it stays much longer. Fingers crossed.

[Anonymous]

Anonymous wrote:OP here. I am actually posting because I'm wondering if a place we like may see a price drop. It's been on the market a couple of weeks, and since we are not in a huge rush to buy or move, I was curious if the price may fall if it stays much longer. Fingers crossed.

Why not just make a lowball offer?