All,
So I put my home (North DFW,TX) up two weeks ago and here is what we got so far:
1st week: 6 showings, no offers, all feedback favorable, 1 person mentioned "it is SLIGHTLY high for the neighborhood".
2nd week (this latest weekend): 5 showings, no offers, all feedback favorable, no mention of pricing issues.
My realtor called the realtors who came this weekend. 1 person on Saturday is debating between my house and a new construction. 1 person on Sunday (yesterday) is debating between my house and another home in the area, needed to confer with his wife.
To add another level of complexity, my realtor is working with another family about 4 houses down and their house will be live this Thursday. They have a smaller home, but not too much smaller, ~400 sq smaller, 1 less bed, 1 less bath. They will be $25k less than us.
My realtor said: "We are getting good showing levels, I think we should hold pricing for another week". I agree, however, I am hesitant.
My gut feeling is we went in SLIGHTLY high and it is time to normalize it by dropping $5k. However, I would wait until Thursday to drop it to see if these two people decide to put in an offer.
By dropping it Thursday, it will draw an even bigger crowd out this weekend since my neighbor's house will also be up. By dropping it, we will only be $20k difference from them and it *might* spur a multiple bid or single bid for us.
Your feeling is..... [fill in the blank]
Cheers!