Website Zillow.com compiled sales information from more than 100 million properties nationwide to determine which cities have the best sale price to list price ratio. Bend came in at number 10 with homes selling at 98.3% of the original list price. This is not a “key economic indicator” for the housing market in Bend and Central Oregon but it does mean the bottom isn’t falling out and sellers aren’t having to chase the market down. It also shows that realtors in Bend seem to be doing a good job of pricing homes for sale.
For my money, it makes sense to price a home for sale just above where the market indicates it should sell. Most buyers will make their first offer below list price and having a home priced slightly above market gives the seller some room to negotiate. Another argument for pricing above market is the possibility of finding that buyer that thinks the home is perfect and has to have it now. Or maybe the seller is even more fortunate and ends up with two buyers who want the house and are willing to bid against each other. Please understand, we are not advocating pulling some wildly high number out of the sky with the hope that someone will come along and buy the house. The days of that happening are 5 – 6 years in the past. There are many factors that go into pricing a home for sale and your realtor is the perfect person to help you sort through them. If you are thinking of selling your home please give us a call. Our team of experts is here to make your sale the best you have experienced.
Zillow processes a huge amount of data and lists like this one tend to be fairly accurate. However, a recent study by Redfin calls into question the accuracy of listings found on sites like Zillow and Trulia.
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