Beat the market to it + secure a first quarter contract

Over the weekend, I took a look at some listings in Cherry Creek North, one of my core neighborhoods. I was curious about some of the luxury listings that stayed on the market through the winter.

[Check out all active Cherry Creek North listings here]

As of Dec. 30, eight single family homes over $2 million were active in Cherry Creek North with an average days on the market of approximately 300 days.

At longer days on market, many sellers begin dancing around price reductions, nothing too quick or too steep. Sellers are expecting (or hoping) to make a solid close on the early side of the spring selling season.

A market winner

But 456 Madison Street took a different approach.

Before the new year, its sellers made a significant price chop, dropping it over 11 percent, from $2.249 million to $1.999 million. A bold move.

The sellers distinguished themselves in the market with a well-timed price reduction, undercutting the competition. They won, receiving four offers and went under contract soon after. The sale is still pending.

[Recently sold Cherry Creek North homes]

I look at this case as a message to eager Cherry Creek sellers: beat the competition to an attractive market price point and you’ll win a first-quarter contract. Price too high, and your home may languish on the market.

Get your home value and reach out — I’d love to help come up with your own strategy to find success early in the 2019 selling season.
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