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You say the market is soft, and it’s just a price thing.

How do you know?  Check the sales count.

Last year was hot, and yet this year we’ve matched the 2015 August sales.  It doesn’t look like we have any structural issues here, it’s just a price thing.

NSDCC August Sales

Year
# of Detached-Home Sales
Median Sales Price
2011
240
$825,000
2012
298
$865,000
2013
324
$953,750
2014
277
$1,050,000
2015
272
$1,034,500
2016
272
$1,199,500

“But Jim, those August sales reflect decisions made in June and July, and now it’s September”.  OK, then let’s simplify my sellers’ rule-of-thumb.

If you are getting lookers and offers, your list price is close. If you are getting lookers but no offers, your price is probably 10% wrong.  How do you know? Because if the price was within 5% of being right, you’d be getting offers.

A buyer said, “I’m not asking anyone to lose money, I’m just asking the sellers to not gouge me as much”.

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