Here’s another seller strategy these days – just wait long enough that other properties around you keep listing higher and higher, and eventually you’ll look like the deal. This graph demonstrates the seller exuberance this year, especially in the higher-end areas.
25th, Median (50th) and 75th Percentile Asking Prices for San Diego, California:
There are a few sleeper listings around – you would think this one is about due to sell, though it’s been on the market for 44 days. It is the largest of the eighteen Carmel Valley houses for sale between $900,000 and $1,000,000 (and whose list prices as a group are averaging $344/sf).
Since this listed on June 26th, fourteen other listings have come on the market in the same range – and 12 of the 14 are smaller, yet priced higher. Only one has gone pending:
Another one of my favorite listing agent techniques is also back. Twice this month there have been 2 houses have signs go up in the yard in South Park but they don’t hit MLS until 2 weeks later. When I asked the listing agent who just happened to be available doing open houses there 6 days a week why, he answered the seller was taking care of some repairs first; )