Colorado Springs Real Estate Answers: Why Didn’t My House Sell? Part One: Price
Did you know that many homes for sale in Colorado Springs do not sell with the first agent that lists it?
This may seem odd, but it is true. We work a lot with folks who recently had their home listed with another agent, but it didn’t sell. The most common question we hear from these Seller clients is “Why didn’t my house sell?” To answer this question, we have created a series of articles that will help you understand WHY your house did not sell.
Welcome to part one in the series: Why Didn’t My House Sell?
This article will deal with the number one reason why a home does not sell, especially in the current Colorado Springs real estate market.
Reason #1: Price
Price is the number one reason why a house does not sell.
Most Sellers do not understand the current real estate market in Colorado Springs well enough to price the home effectively on their own. A competent real estate agent in Colorado Springs can give pricing advice to a seller, but ultimately it is the Seller’s decision as to exactly what the asking price will be.
Of course we all want the most amount of money for our home. But price is only part of a delicate formula. The higher the asking price is, compared to your competition, the longer your home will stay on the market.
We specialize in working with sellers who have recently had their Colorado Springs home on the market. One of the first things we recommend to our new seller clients it to sit down with us and really look at the current Colorado Springs real estate market and the immediate competition. We are advocates for consumer empowerment in real estate and do whatever we can to ensure that our sellers are as educated as possible before re-listing their home with us and putting it back on the market again. More times than not, an educated seller will understand pricing more thoroughly and realize that a price change is almost ALWAYS the answer to “Why didn’t my house sell?”
How can you tell if PRICE was the reason your home didn’t sell?
In most cases, you probably did not have a lot of showings while your home was listed … if you had any at all. This is because your home was overlooked by both buyers and their real estate agents. There are too many homes on the market to bother looking at homes that are priced even a little bit too high.
So, if after reviewing and understanding the current Colorado Springs real estate market, you find that price WAS the reason that your home didn’t sell, luckily, it can be an easy fix. You may not “walk away” with as much money as you hoped for, but at least you will not be “stuck” with a home that you no longer want or need.
For more information on selling your Colorado Springs home, and what we at the Wagner iTeam do for our sellers, please contact us at: 719.434.7525