House sitting on the market till the market picks up

Profile picture for Tap012
So I've had my house listed on the market for almost 3 weeks. Some showings but no offers. Realistically, I can only lower my listing price about $5k without entering into short sale territory. I really don't mind having my house on the market for 6 months or a bit longer if it needs to be.

Is it possible to just sit on the market for a long time, and then someone actually buys it without having to lower the price too much? Or maybe the market picks up a bit so I won't have to lower my price?
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January 23 - US

Replies (3)

Profile picture for Chris Hall
Ask your realtor what the average days on market are for your area.  That is a good guide.  being priced correctly is very important.   As a home seller you only have control over the marketing, the quality of the home, and the asking price.  "The market" or buyers will tell you if you got it right.  Feedback from the showings you have had is very important to understand if you are on track to meet or beat the average days on market in your area.

I hope this helps.


Chris
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January 23
Profile picture for Sharon Lewis
Its possible to sit there for that length. Go through your home with the Realtor and look at it with fresh eyes though. Are there improvements you can make, like toning down paint color,removing wallpaper (please remove wallpaper) decluttering. Also ask about getting some new photos, how is the lead photo of your house? Does it need updating? Six months is a long time. Get something with snow on the ground,unless you live in a warm state. Hope that helps.And revisit why you have to move, do you?
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January 24
Profile picture for Wes Black
I actually would be encouraged at this point. It's great you have had showings in first 3 weeks. You can easily keep your price the same for 60 days or so if you keep getting showings. Be sure curb appeal is excellent and inside kept spotless.
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January 24
 
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