{"id":3407,"date":"2017-04-14T00:00:00","date_gmt":"2017-04-14T00:00:00","guid":{"rendered":"https:\/\/amazingproperty.com.ng\/blog\/more-ultra-luxury-sellers-face-stale-listings\/"},"modified":"2017-04-14T00:00:00","modified_gmt":"2017-04-14T00:00:00","slug":"more-ultra-luxury-sellers-face-stale-listings","status":"publish","type":"post","link":"https:\/\/amazingproperty.com.ng\/blog\/more-ultra-luxury-sellers-face-stale-listings\/","title":{"rendered":"More Ultra-Luxury Sellers Face \u2018Stale\u2019 Listings"},"content":{"rendered":"

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In the high-end market, more properties are lingering. Some sellers are having to reduce their prices in the ultra-luxury market, in the hopes of getting a quicker sale. Otherwise, those hoping to hold out for a higher price are finding they\u2019re waiting not months but years to make a sale.<\/p>\n

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Read more<\/strong>: Luxury Owners Rethink How They Use Space<\/span><\/p>\n<\/blockquote>\n

For some, the waiting game is fine, though.<\/p>\n

\u201cIn most cases, my sellers don\u2019t have to sell,\u201d says Ann MacQuoid, a real estate<\/a> professional with Berkshire Hathaway HomeServices. One of her clients in Park City, Utah, has a home listed for $10.9 million that has lingered on the market for a year and a half.<\/p>\n

The pricier the home, the longer it usually takes to sell, according to data from realtor<\/a>.com\u00ae. Homes in the highest bracket spent a median of 134 days on the market compared to 100 days for luxury homes<\/a> overall. Meanwhile, the typical home spent only 53 days on the market. Realtor.com\u00ae\u2019s research team examined the priciest 10 percent of 44,000 listings in the 20 largest U.S. metro areas in February.<\/p>\n

About 9.5 percent of luxury homes spent more than a year on the market, according to realtor.com\u00ae\u2019s research.<\/p>\n

But real estate professionals warn that letting a listing<\/a> go stale is rarely a good idea in the end. A buyer may start to believe something is wrong with the home and lowball the seller. Indeed, homes that spent an average of 774 days on the market to sell received 77 percent of the original list price, according to a report from Concierge Auctions, which analyzed the 10 most expensive sales in 27 high-end markets. On the other hand, homes that were on the market for less than 180 days sold for 93 percent of the initial list price.<\/p>\n

John Walton and Stacy Demcher of Keller Williams Jersey Shore say they specialize in “expired listings” that have not sold. Walton says he will typically come in and adjust the price, take new photographs, and rewrite the copy to re-energize a listing and speed a sale. Some real estate pros also recommend taking the home off the market for a short period to try to reset the days-on-market number.<\/p>\n

Source: \u201cHigh-End Homes for Sale<\/a> \u2026 for Years,\u201d The Wall Street Journal (April 13, 2017) [Log-in required.]<\/em><\/p>\n<\/div>\n

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In the high-end market, more properties are lingering. Some sellers are having to reduce their prices … More Ultra-Luxury Sellers Face \u2018Stale\u2019 Listings<\/span>Read more<\/a><\/p>\n","protected":false},"author":1,"featured_media":3408,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"advanced_seo_description":"","jetpack_seo_html_title":"","jetpack_seo_noindex":false,"jetpack_seo_schema_type":"","_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_feature_clip_id":0,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2},"jetpack_post_was_ever_published":false},"categories":[4],"tags":[1403,12908,543,127,41,818,84,479,61],"class_list":["post-3407","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-opportunities-in-new-markets","tag-buy","tag-home","tag-home-buying-guide","tag-homes","tag-property","tag-real","tag-real-estate","tag-realtor","tag-seller"],"jetpack_publicize_connections":[],"jetpack_featured_media_url":"https:\/\/amazingproperty.com.ng\/blog\/wp-content\/uploads\/2017\/04\/9CxuOAWNSwI","jetpack_sharing_enabled":true,"jetpack-related-posts":[{"id":1440,"url":"https:\/\/amazingproperty.com.ng\/blog\/luxury-sellers-arent-going-to-like-this\/","url_meta":{"origin":3407,"position":0},"title":"Luxury Sellers Aren\u2019t Going to Like This","author":"Amazing Property","date":"February 28, 2017","format":false,"excerpt":"[ad_1] More high-end home sellers across the country are being forced to offer discounts as the luxury real estate market shows signs of softening, The Wall Street Journal reports. Read more: Luxury Owners Rethink How They Use Space \"Buyers are very price sensitive,\" says Donna Olshan, a real estate professional\u2026","rel":"","context":"In "Opportunities In New Markets"","block_context":{"text":"Opportunities In New Markets","link":"https:\/\/amazingproperty.com.ng\/blog\/category\/opportunities-in-new-markets\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":818,"url":"https:\/\/amazingproperty.com.ng\/blog\/6-costliest-mistakes-sellers-make-pricing-their-home\/","url_meta":{"origin":3407,"position":1},"title":"6 Costliest Mistakes Sellers Make Pricing Their Home","author":"Amazing Property","date":"February 16, 2017","format":false,"excerpt":"[ad_1] Pricing your home to sell does not have to be a complex process when you have a plan of action and great information at your fingertips.\u00a0 After 21 years and over 2,200 homes sold, I can honestly say, the well informed, prepared seller will get the most money for\u2026","rel":"","context":"In "Property owner"","block_context":{"text":"Property owner","link":"https:\/\/amazingproperty.com.ng\/blog\/category\/property-owner\/"},"img":{"alt_text":"Pricing you home to sell","src":"https:\/\/i0.wp.com\/amazingproperty.com.ng\/blog\/wp-content\/uploads\/2023\/01\/b46589872d984e383b6302d71990b40c.jpg?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":1889,"url":"https:\/\/amazingproperty.com.ng\/blog\/in-luxury-more-sellers-become-the-tenant\/","url_meta":{"origin":3407,"position":2},"title":"In Luxury, More Sellers Become the Tenant","author":"Amazing Property","date":"March 13, 2017","format":false,"excerpt":"The practice of sellers renting back their home after the sale is increasing in a number of high-end markets, The Wall Street Journal reports. 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