While in the heyday of the real estate in the Portland market one could easily price above the latest home sales as the frenzy of buying combined with very few homes available drove prices upward on a monthly basis.
A review of the 19,085 active listings last year, 2010, in Mulnomah County shows a clear guide towards pricing strategy in todays real estate market. The majority of the sales last year occured in the first 0-30 days of the listing and sold for an amount closest to the list price. Fewer sales occurred as the listings stayed on the market with the greatest loss of the sales price to the seller as time wore on.
Only 42% of the homes listed last year actually sold.
There are many tools that I share with clients to help guide them towards the most effective pricing strategy, and avoid any further loss of value.