Because as I look around I'm having a hard time understanding why people would set themselves up for failure and list their homes at prices that offer little to no chance of actually selling them.
This struck me yesterday when I saw a home listed for sale - a bright cheerful new listing for a nice house in the Foothills - and noticed that it was priced at well over $340/sf.
And that got me wondering if, in between the polite chatter and the ooohing and aahing of the listing presentation, the listing agent happened to mention that there are 99 homes for sale in the Foothills priced at $340/sf and up, and, here's the really important part, in the last 3 months just one has sold. Yep, just one sold.
Now if you do the math, that works out to a staggering 297 month supply of homes priced at $340/sf and up, or about 24 years worth.
And because it's such a quick, handy and reliable guide to what homes really cost, more than ever, buyers are routinely examining and comparing $/sf costs.
And when they look at the 13 homes that have sold at $800k or more in the last 3 months, they see the average $/sf cost was $262.71 - a far cry from the 40 homes that have been listed for sale since January 1st at $340, $350 and more/sf.
So Mr. & Mrs. home seller, while I hate to be the bearer of bad news and I'd love to help you sell your home, as you can see, our chances of selling at this price are not so good. And so on and so forth
I wonder, is this stuff coming out loud and clear over the din of ooohing and aahing.
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