Benefits of Pricing Correctly

There are many benefits to pricing correctly, two of which are less time on market and a higher sales price when compared to the original list price. Check out these charts for a great visual representation.

For this exercise we used listings in the Mount Bethel, Timber Creek, Sope Creek and East Side Elementary Schools that feed into Walton High School because this represents the area we specialize as hyperlocal Realtors.

The data points are resale listings (excludes new construction) that went under contract from 1/1/17 – 7/31/17.

Stats 7-31-17 DOM SP-OLP No Price Change Scatter ChartStats 7-31-17 DOM SP-OLP Price Changes Scatter Chart

Here are the details:

  • 185 listings had no price changes vs 104 that made one or more adjustments.
  • Listings with no price change sold on average in 16 Total Days On Market and at 97.8% of the Original List Price
  • Listings with price changes sold on average in 83 Total Days On Market and at 91.4% of the Original List Price.

You will find these and other stats for Mount Bethel, Timber Ridge, Sope Creek and East Side on MillerGroupRealty.com, many of which present results based on price range because price range does matter.

We welcome your comments, and contact us when you have thoughts of moving because hiring the right agent is an investment in being able to net more at closing in less time rather than an expense to be avoided.

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