In Addison County, Vermont 131 homes were sold from May 1 of this year through November 18 and spent an average of 197 days on market. The average list price was $258,919 with an average closing price of $241,689. This is a 93% list to sell ratio.*
Does this mean that if you set your home price you will likely return 93% of that in a sale? Not necessarily if you didn't set the price correctly to start with. Some homes may go through multiple price reductions before an offer is made and it is the price that is finally triggered the sale that is used in this data. Setting your home price correctly on day one is essential to ensuring that your home sells with far less than 197 days on market. A good market analysis will tell you how to price your house to sell quickly as your home needs to be the shiny penny in the price group you are in. In this market there is no such thing as a buyer who happens along and will fall so in love with your house that they will pay a higher than market price. Buyers are looking primarily for good value and being the best house in your price category will ensure you are seen as the best value. And it will ensure that your home will be appraised for the selling price, keeping your closing moving along!
*Data from the Northern New England Real Estate Network
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