We originally listed this nice home at 1757 Stacy Rd in Fairview in May of 2019. The home is 4,884 SF with a pool on 2.8 Acres and it was built in 2014.
We ran the comparables and at that time, the home showed a market value of around $875K. We listed it for $899K and didn't have a single offer for months. We eventually lowered the price to $870K and kept it there until the listing expired on October 31, 2019.
Another agent came in after us in 2020 and listed the home again at $899K. After months on the market with no offers, they also ended up lowering the price to $875K. It still didn't sell.
Fortunately, the Seller called us again to relist their home in March of this year. Heather Poehler advised him to list at $1.05 million. Mr. Seller told me later he thought we were being overly optimistic but decided why not give it a try. So what happened?
We had 6 offers on the home the week it hit the MLS and it just sold over the list price for $1,115,000. The seller made $245K by selling now than they would have two years ago. Do you think that's a happy seller?
This is a perfect representation of what we've been seeing all year. I keep reminding people, this buying frenzy won't last forever. I don't want to sound like a pessimist, but I've been through quite a few boom and bust cycles.
I can't promise you the same kind of results on a home you're thinking about selling, but these are historic times. Sitting on the fence in a market like this could cost you a lot of money.
If you're thinking about selling your home this year, DON'T WAIT! Get it out there right now. Give me a call and we'll come by and give you a fair market price for your home. Unless we've completely misread this market, you should have offers that will take you over the listed price.
Here are some pictures of the home ...