Eastchester NY, Price It Right

There is still a low amount of inventory that meets the demands of todays buyers whom look for open floor plans with renovated kitchens and bathrooms. Creating an high demand for these move in ready homes within the Eastchester School District.

As of today, there have been 20 homes that have sold within the last 90 days within the Eastchester School district, 7 of which sold in under 30 days on the market. That means 35% of the homes sold within the last three months sold in under 30 days. Interestingly enough, the average list price/ to sale price percentage is 101.57% on these homes that sold in under 30 days, meaning that on average, these homes sold for 1.57% more than the asking price of the home. On average, an agent in Westchester County sells homes for 95.66% of the asking price. Which brings me to my next thought, that these homes that are priced competitively yield more than those that are not, that the auction-like effect for sellers is the way get the most money for their home. That Days On Market hurts sellers. Yet most sellers are convinced that if they price high, they can meet their buyer at the bottom line or wait for the right buyer that will bring them their price. We have found that this conclusion is erroneous and can hurt an sellers pockets. What determines value in the eyes of an buyer shopping for a home is comparison shopping, and when a buyer determines that your home is priced well, and shows better than the homes you are competing against, the best scenario that can take place is for multiple buyers to compete for your home, driving the price up.

Make sure you price it right!

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