Sometimes a seller may need to consider a price adjustment after listing their Northwestern Wisconsin home or land. This is a practical strategy when local market conditions are changing, or when buyers are not showing interest in the property.
Generally, a home that is priced right for the market will draw buyer attention right away, and offers won’t be far behind. However, some properties take much longer to sell as a norm, such as vacant land or commercial properties.
Before deciding to adjust your price, consider the amount of time similar properties spent on the market. For example, single-family homes in Barron County spent about 58 days on the market as of August 2024. A month earlier, it was only 40 days.
Next, consider your market competition. Has it increased? Are similar listings showing price reductions? Does your property look like a good value to buyers?
Making a price adjustment before your property has lingered on the market can help you draw an offer and preserve profit. Otherwise, if market conditions slow further, you could end up giving bigger discounts later.
There are alternatives to price adjustments. You might offer credit towards the buyer’s closing costs. Or, you could offer credit for new appliances or some other update. You could also wait-and-see what happens in the next week before doing anything. Your agent can discuss the current market conditions with you, and help you decide.
Six Lakes Realty is a locally-owned family business with over 45 years of experience. As your Northwestern Wisconsin real estate experts, we can help you succeed with your property sale, in all market conditions!
We offer home and land market valuations free of charge. Contact for friendly, hometown service!
John Flor
Managing Broker
Six Lakes Realty
Office: (715) 924-4806
Email: john@sixlakesrealty.com