Where are the buyers searching
Common sense tells us that the lower the price, the more people who are in the market looking to buy.
Some statistics that I just got demonstrate what price ranges are being searched by consumers. These are numbers provided by the major players, Zillow, Trulia, Realtor.com, etc.
Last month, there were 28,171 views of 3 bedroom properties listed between $100-200k. There were 23,551 views of 3 bedroom properties between $200-300k.
And then the drop-off begins. Between $300-400k the number of 3 bedroom property views dropped to 11,132.
Just an interesting thing to keep in mind when looking at how much competition there is in the market with you. As a buyer, if you can raise your price range, you become a bigger fish in a smaller pond. And as a seller, if you can lower your price, you are in a pond with a whole bunch more fishes.
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