How much does nearby construction site effect asking price?

2 Replies

Our single family home is currently for sale. We advertised it as a tranquil quiet home with an unobstructed view into the back. During the first week of listing, a developer started to build a new community, planning to leave 100ft btw our house and the new builds.

Our real estate agent immediately declared that our asking price (568,000) is no longer justified and that it would be hard to find someone willing to buy it. After two weeks on the market, we agreed to accept an offer for (550,000). We simply would like to hear from a professional how much a nearby construction site influences the sale of a house. Our agent reacted very panicky and we are contemplating whether we reacted too quick. Any feedback would be highly appreciated. Thank you!

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