5% Overpriced: If you’re getting 3 to 5 showings per week with positive feedback but no offers, your property might be 5% overpriced. The market is showing some interest, but not enough to drive serious offers.
10% Overpriced: If there are few or no showings, no feedback, and no talk of offers, it’s a strong indicator that the property is 10% overpriced. In this case, an immediate price adjustment is crucial to attract potential buyers.
Remember, the first 7 to 10 days on the market are critical. This is when your listing will see the most online views and showing activity. After this period, if you’re not seeing the expected metrics, it’s time to reconsider your pricing strategy.
