Here is a quick screen shot on the comparison of the average selling price (percentage) and the amount of time it took to sell – when the home was priced right vs. when it was not priced right.
Chicago Homes with NO price changes:
Chicago Homes with AT LEASE ONE PRICE change:
I think here we will let the data speak for itself but to have your home on the market for an additional 4 months (while reducing your OLP as you go) …. well lets just say that I don’t think it was anybody s plan when they launched their listing with their Chicago real estate agent!
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* OLP stand for “Original Listing Price”