Tons of showings but no new offers...?

2 Replies

I recently finished construction on a large custom home in a gated community in a rural setting. The home was built with quality materials and has lovely,high end finishes (which  is expected in this price point). At $699K, It's priced lower than anything that is NEW and over 5000+sq in the county. I noticed most builders in this community listed their homes well before the construction was complete. I listed when I was basically done. In 45 days I've had 14 showings & 1 offer (in first week) that fell through. And no new offers. The main feedback i've received is that the neighborhood is far out...its 6 miles from city limit (unfortunately nothing I can do about location). Should I do another price reduction (not sure if that looks desperate....since I'm already lower than competition), or should i just be patience (like the other builders in the area) or should i just forget about selling,  move in and wait for the market to adjust? Thoughts? Suggestions?

https://www.har.com/7044-deerwood-trail/sale_NTREIS-13890804

@Berni Mckinney what are the average DOM at that price point in that area? That'll tell you if you're priced too high. With school starting or having already started, you've missed the best time to sell to families (I'm assuming your target market) so you may have to be aggressive to get an offer.

@Jason DiClemente Thanks for reading my post. Yeah, you're right...school's back in session. We finished behind schedule. Average days on market is around 180 days, but like I mentioned, most Builders list well before they finish construction...I prob should have too. Any new marketing techniques you (or anybody) can recommend? (I've done main social media platforms,MLS,all online listing services, open houses, following up with all realtors that show...).