Tons of showings but no new offers...?
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