The Power of Demand Based Pricing

 

Have we hit a hard ceiling on pricing in the country?

According to a recent study the number of homes receiving over full price has fallen dramatically. In addition the appreciation rate has slowed to 3-4% in many areas of the country. Here are some numbers that provide some insight:

  • The share of U.S. homes that sold for more than their list price in 2019 fell to 19.9%, the lowest annually since 2016.
  • Homes that sold above list last year typically brought in $5,100 more than the asking price, down from $5,500 the year before.

Even with record low inventory and strong demand buyers are now resisting higher prices. Why? One reason is income, over the past twenty years incomes have been relatively stable with very little growth. 

So how can we help sellers navigate the changing market landscape? One way is to explain demand based pricing. Watch the video to learn how identifying and explaining buyer demand to a seller can help them position their home to attract more showings...

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