Know which number should drive your decision before you act.
You are trying to decide whether to list high and negotiate down or price closer to where buyers are actually closing. My answer in Lowell, IN, the smartest move is to price with the closing reality in mind, because buyers are not paying full asking on average.
Recently, the typical list price was $374,900 while the typical closed price was $347,800 in Lowell, IN.
Recently, the typical list price was $374,900 while the typical closed price was $347,800 in Lowell, IN.
One number to respect from recent data is the gap between the typical list price and typical closed price $374,900 versus $347,800 recently. Offers landed around 97.5% of asking, a typical sale took 40 days, and supply stood at 2.47 months.
Where people get this wrong is assuming a higher list price automatically produces a higher net. When the market is closing at about 97.5% of asking, overpricing can simply create longer market time and more negotiation leverage for the buyer later. I do not have a reported breakdown of price reductions for this period.
Choose a pricing lane and commit to it either price tight to attract decisive buyers early, or be ready with a clear negotiation plan that protects your net when the 97.5% reality shows up. Remove avoidable objections before you list so the buyer has fewer reasons to negotiate down from your asking. Track your first few weeks carefully and be prepared to adjust fast if you are not getting the showing activity you need, because a typical 40-day timeline does not leave room for months of "testing" the market.
