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825 SW Theater Dr

825 SW Theater Dr

Listed: September 2021, seller priced
Price Reduction: November 2021
First Offer (Low): October 2021
Decision to withdraw: December 2021
Re-launch timing: Based on “spring”
Re-Launch: March 4, pending in 4 days
Closed: May 2022 at $2,600,000

This home was listed in the fall at the seller’s suggested price that was out of line with the market overall and a price reduction was necessary just one month later. The new price still did not generate any activity other than an offer well under asking price. It was our suggestion to the seller that instead of continuing to lower the price as we headed into the off season (holidays), the wiser decision would be to remove from the MLS for at least 60 days, reset the days on market and relaunch in the spring when buyer activity is stronger.

The home was withdrawn in December and relaunched in early March and subsequently had two offers and went Pending in 4 days above asking price. Had the decision been made to try to lower the price and push a sale in the off season, it would have cost the seller hundreds of thousands of dollars.

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