Friday, June 30, 2023 / by Matt Cronin
How is the market?
Now, you’re probably thinking, the market is hot right now I can sell for millions!
Or the market is slowing down, I shouldn't sell, right?
Let’s address this.
There are three factors that affect the sale of a home.
The Market, The Condition and The Price.
You can control 2 of those.
You can control the condition of your home and the price of your home.
You cannot control the market.
Luckily, here in Palm Beach County we have a very steady market.
Not a sellers market, and not a buyers market.
Right in between.
Average days on market is just under 60 days.
That's why at exit we ask for 90 days from you.
If we can't sell your home in under 90 days, then it may be because of the condition or the price.
Take Khalid and Jenny for example.
They were selling their home for 2 million dollars.
We warned them that it may be a bit too high.
The market was good, the condition was pristine.
What could it have been?
Right, the price.
They started their pricing above 2.2 million, as we eased them down to 2 million, traction picked up, and we got them under contract at exactly 2 million.
We had them at maximum exposure and we tested different prices to find the true market value.
Pretty nice to know we don’t have to worry about the market here right now, huh?