Decided to sell our first home to tap into the hot market. 3 BR, 1.5 BA. Great neighborhood, great schools, near a big city. Lots of brand new updates (finished basement, roof, deck). No major issues with house at all. Looked at and and leaned on comps to price appropriately with our realtor who has worked local market for years. We even priced a little lower than we thought it was worth to try and induce bidding.
We showed it for a week and other supply came on the market for a similar price point and feedback was our layout wasn’t perfect for young families and competing houses (same square footage but 4 BD 2BR) got a lot more foot traffic and interest. Fast forward and the competition at the same asking price point got 9 bids and went $150k over ask and we got 1 bid at $20K under ask.
Debating accepting the lower bid and swallowing our pride or letting house show for another weekend and taking a gamble. Realtor feels houses on for longer than a week in our market start to have a stigma and now more supply could hurt our chances.But we are floored that there is no interest in the house with everything going on in the market. I guess families can’t make 1.5 BA work anymore…(?)
Never thought I would be a frustrated seller, but here I am. Nothing but a tidal wave of bidding war stories and we are an outlier…