Hey OP, I’m in a similar boat. Our house has been on the market 10 days and is in a highly desirable location at a great price. The feedback we’re getting is that people are still getting pre-approvals, looking at other houses, and just taking their time in general. There isn’t a sense of urgency like there was during peak COVID times! Hang in there, it will sell in time!

Anonymous wrote:Imo you pick a sellers agent with a very good track record in your neighborhood and you do what they tell you.

OP here. Regarding the agent we have selected you are absolutely correct. He is very experienced (25 years) and over 90% of his business is on our zip code. And over the past 25 years most of the houses he sold were over asking. When his team came to take pictures they paid attention to small details that we overlook.

We just hope it goes well. We will be happy selling at asking or slightly below but he seems confident that we will sell above asking. Let's see.

We are just nervous that September is outside peak selling season, but we have to sell as we are moving to a new chapter in our lives.

It's a rough market with the government downsizing.

Anonymous wrote:Imo you pick a sellers agent with a very good track record in your neighborhood and you do what they tell you.

This. Or choose a different agent.

We sold our house in the spring and the agent suggested a listing price that exceeded what we thought we could get for. Went pending above asking in 5 days (with 3 offers).

Imo you pick a sellers agent with a very good track record in your neighborhood and you do what they tell you.

Wishing you well!

Houses in Arlington are selling but on market 2 weeks longer, almost double.

dont list to high it will get stale.

I dunno. A house in our neighborhood was listed last week and it is already contingent. The price was fair, about 10% over what we paid for a very similar house in 2021.

I do not think the market has stopped at all. There are bigger houses nearby that are sitting, but I don't know how reasonable their prices are.

I would ask the realtor how he came up with the sales price then tell him to reduce the amount for quicker sale.
The first week or two is when you will get the most interest and don’t waste it.

OP in a few months you will be half you sold your house now. I don't have a crystal ball but I have the feeling that inventory will go up significantly.

Anonymous wrote:Listing higher can make sense during a slower market because the assumption is it will take longer to sell no matter what. Starting higher allows you to cut the rice once or twice without losing your goal profit margin, and get the listings bump that comes with a price cut. Also you never know, someone might bite on that higher price, depends on what else is on the market. How does your price compare to the other homes that listed recently? If it's in line or a bit higher, you're fine.

OP here..thanks for the explanation. We are line with the most recent comp that closed 3 weeks ago, but those 2 houses were listed in July though.

The fed is about to announce a rate cut so people may be waiting to see how it impacts mortgage rates.

Listing higher can make sense during a slower market because the assumption is it will take longer to sell no matter what. Starting higher allows you to cut the rice once or twice without losing your goal profit margin, and get the listings bump that comes with a price cut. Also you never know, someone might bite on that higher price, depends on what else is on the market. How does your price compare to the other homes that listed recently? If it's in line or a bit higher, you're fine.

I'm nervous ... Our home is going to be listed next week. A few houses were listed in Sept and none ade pending. Yes it's September the market is slow. However, it seems like an abrupt stop. Just a few weeks ago in August homes were pending within 2 days of being listed.

And while we are using an experienced realtor, I feel like he is overestimating the value of our house and the listing price may be a bit high.

Are buyers ignoring comps and choosing to wait?