A while back we hired a scientist. ⠀
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There is no such thing as a real estate scientist, although you can guarantee that is on a business card and bus stop bench somewhere. ⠀
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We hired a data scientist. We were trying to find a correlation between how long a home stayed on the market and the price. ⠀
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What we found was not a sliding scale but a window. There seemed to be a price range where homes moved quickly relative to the market demand and outside that window, they would sit. ⠀
Honestly, we didn’t exactly crack any code. We reaffirmed an existing real estate concept by Daniel Johnson called the stagnate pond. In this analogy homes that are priced correctly according to value will move quickly, like to topwater on a pond. If they are outside of that range, they’ll sink to the bottom and become stagnate. ⠀
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This makes people nervous because they assume they’ll need to discount their home to sell it. Not at all. You just can’t overprice it and expect it to move. ⠀
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There is a sweet spot where you can sell it at the highest price while still selling quickly. ⠀
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When you need help finding that sweet spot price for your home, we can help. We’re practically real estate scientists. ⠀
