Longer on the Market = Lower Price

Prices may be on the rise, but about 63% of homes sold at a discount compared to the list price in May, according to the 2015 REALTORS® Confidence Index Survey. The discount averaged in the 1% to 11% range.

The longer a property lingers on the market, the more likely the home will end up selling at a discount from the listing price. Eighty-four percent of homes that sold after 12 months were sold at a discount. On the other hand, 24% of homes that sold within a month sold at a premium.

Staging a home raises price

Staging a home may help a listing to fetch more, according to the National Association of REALTORS®’ 2015 Profile of Home Staging. The survey found that percent of buyers’ agents say that staged homes increases the dollar value a home buyer is willing to offer by one to five percent.

 

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