Price Decreases and Open Houses

Sabino Mountain has 9 homes for sale and every one of them has seen price decreases (some have seen multiple price decreases). The two I sold last year and the other one my company-Russ Lyon- Sotheby’s International Realty sold saw no price drops. We priced them right from the beginning leading it to sell at a higher price than a house that lags on the market and, of course, they sell quicker. A good market analysis coupled with a motivated Seller insures a property is priced correctly right from the start.

Lately I notice that it is rare that the listing agent holds the house Open. I hold my listings Open at least once a month. Who knows the house better than the listing agent?

Houses that have been on the market for a long time get stale making them harder to sell because they are perceived as less attractive than newer listings. It is easy for the buyers to see how long the house has been on the market even if it has been re-listed for sale at a later time.

Last year Sabino Mountain lagged behind 2014 with 30% fewer sales. Much of it was because houses were not priced well right from the start. And some –when it was very obvious that the house needed a price decrease– waited too long to lower the price. Another tip–it is not good to list your house when there is a lot of competition on the market of a home like yours.

There are no one-story homes listed for sale that are Pepper Viner built and there are no listings in the 410K-800K price range. If your house fits in either category, it would be a good time to list now. There are no homes listed above 835K. The higher price range is challenging but if you are motivated and aggressively price your luxury custom home for sale, it does sell. Catalina Foothills homes priced above a million saw a 30% decrease in the number of sales from 2015 versus the year before.

It is important to list your house with an agent who has a lot of experience and who knows Sabino Mountain well. Give me a call at 520-615-2598 if you are contemplating selling your home in 2016.