Southwest Louisiana Home Sellers Cut Listing Price after 79 days average on market.
When listing Southwest Louisiana real estate, the price of your Lake Charles, Westlake, Sulphur, Carlyss, Moss Bluff Home for Sale is the key to getting your home sold!
Currently, The Lake Charles real estate market is a “Buyer’s Market” and there is a high inventory of homes for sale in Southwest Louisiana. What this means for Lake Charles home sellers is home buyers have a large selection of homes to choose from. In other words, Lake Charles home sellers have a lot of competition.
Trulia reports “During the first quarter of 2011, home prices and sales were both down, but pending sales and house hunting traffic on Trulia were up, indicating that buyers are preparing themselves to take advantage of a strong buyer’s market,” said Tara-Nicholle Nelson, Consumer Educator for Trulia.
If your home for sale is not showing on a regular basis and attracting buyers, it is usually an indication that the home is priced too high. Lake Charles home sellers must be prepared to make price reductions when all the real estate indicators point in this direction. Holding firm to your original listing price is unrealistic and uncommon. Statistics show that sellers who make one price reduction, over one third will make a second price reduction.
By viewing the Southwest Louisiana real estate map you will note that the average first price reduction is made 75-97 after a Lake Charles home is listed for sale and the price reduction is between 5%-9%. These figures have been reported by national real estate source Trulia.
Pricing and marketing your Lake Charles home for sale go hand in hand. On another note regarding marketing your home, the average time frame to obtain a sale of your Lake Charles Home is about 120 days. This is another reason why a 90 day listing is not realistic for home sellers. Given the price reduction averages and market time averages, both exceed 90 days.
When to drop the price of your Lake Charles Home for Sale? Consult with your REALTOR for their guidance and expertise!