Homes For Sale Louisville | New Listings Enter The Market With 10% Lower Prices Than Existing Listings

As a Louisville Realtor, one of the most important services I perform for a client is helping to set an appropriate asking price for a property. This is also one of the most difficult, since most sellers want to maximize their sales price, but also price it to sell. Sometimes those are mutually exclusive goals, and that complicated situation only gets worse when most selling clients think that they can handle being patient and wait for the "that one" buyer who will pay their price, but in reality, most sellers get impatient very quickly, and don't like being on the market more than a few weeks, much less months and months.

And now, to make it really difficult, how do you put a asking price on a property when market prices are constantly moving, both up and down, from week to week? In theory, it setting a price sounds easy, but to do it well is very difficult. To help, your agent really needs to be on top of real estate data, and needs to know the market inside and outside. Not only what is on the market, but what is coming on the market each and every week. For instance, would it matter to you, as a home seller, if the median asking price for your zip code was $200,000, but for the homes that keep coming on the market, the new listings, the median asking price was $175,000? Wouldn't that make a difference? The new homes coming on the market are averaging a full $25,000 less than your home! That's huge, and yet, most Realtors and home owners don't pay attention to this kind of detail. Let's make it more visual for you:

Homes For Sale | Louisville New Listings Pricing

The black line shows the median asking price for ALL of the homes for sale in Louisville, while the gold line shows only the median asking price of the homes that came on to the market in the past week. A few months ago, the two numbers were pretty close, within a few thousand of each other, probably a small enough number that buyers wouldn't be influenced by the gap. However, look at the gap today, almost $15,000, or 10%! That's huge. You better believe that buyers are going to pay attention to that! And guess what that does to the asking price of homes currently on the market? It's going to put some additional downward pressure on sellers, to try and match the motivated home owners just now coming on to the market with the lower priced listings.

As you can see, it is very important to keep up with the current market forces, or have a Realtor who will, representing you in the sale of your house. If you have any questions about homes for sale Louisville in general, please visit my website at www.GregFly.com. Also, please feel free to call anytime or send me an email at greg@gregfly.com.