If your house didn’t sell this summer, look at its asking price. That’s the advice of RE/MAX Northern Illinois brokers, who report that the biggest hurdle keeping homes from selling this summer season was a list price too high for the market.
The good news for owners whose homes didn’t sell this season, though, is that the Chicago-area real estate market remains hot, with many homes still fetching multiple offers. Owners who price their homes right – and prepare their residences properly for selling – should still nab solid offers in the fall and winter months.
Some owners might even benefit from having their home on the market as summer shifts into fall.
The key, though, remains pricing. Owners who priced their homes too high in the summer now can rectify that mistake.
“Especially in the summer season, sellers have a tendency to put a property on the market at the highest possible price point,” says Janice Corley, broker/owner of RE/MAX Premier Properties in Chicago’s Gold Coast neighborhood. “Too many owners feel summer is the one market in which they can get the highest price. They focus on that instead of pricing their home where it should be. Buyers today know when a home is priced too high for the market. They’ll simply look at another home that’s priced more reasonably.”
