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AVERAGE DAYS ON MARKET IN EAGLE RANCH
The average days on market (ADOM) continues to rise in Eagle Ranch, Eagle, Colorado. It is currently 220 days, which is quite high. This is a reflection of the current market in our area. What does this say about current market conditions? Well, first of all this is a reflection of the fact that many buyers are still trying to sell their properties for prices which are too high. Many still believe they will be able to fetch an offer that they may have seen two years ago. Some sellers are dropping prices moderately and hoping to recieve as high an offer as they see possible. The problem with "fishing" for these offers is that they are just no coming right now. It is imperative to price your property in the area where the buyers are currently "feeding". For instance, if you are fishing out of a boat, and all the fish are dwon deep, does it pay to fish in the most shallow part of the lake? Of course not, there's no fish there! So basically what I am saying is that in order to "catch" the buyers in this market sellers are going have to start lowering thier "bait", or price into the area where buyers are currently seeing value, which is well below what asking prices were a couple of years ago. If you need to sell, your property is going to have to be perceived as a much better value than everything else that is out there, so fi you are selling, be prepared to price accordingly.
The average days on market (ADOM) continues to rise in Eagle Ranch, Eagle, Colorado. It is currently 220 days, which is quite high. This is a reflection of the current market in our area. What does this say about current market conditions? Well, first of all this is a reflection of the fact that many buyers are still trying to sell their properties for prices which are too high. Many still believe they will be able to fetch an offer that they may have seen two years ago. Some sellers are dropping prices moderately and hoping to recieve as high an offer as they see possible. The problem with "fishing" for these offers is that they are just no coming right now. It is imperative to price your property in the area where the buyers are currently "feeding". For instance, if you are fishing out of a boat, and all the fish are dwon deep, does it pay to fish in the most shallow part of the lake? Of course not, there's no fish there! So basically what I am saying is that in order to "catch" the buyers in this market sellers are going have to start lowering thier "bait", or price into the area where buyers are currently seeing value, which is well below what asking prices were a couple of years ago. If you need to sell, your property is going to have to be perceived as a much better value than everything else that is out there, so fi you are selling, be prepared to price accordingly.
