The Real Reason Your Condo Might Be Sitting on the Market
A recent message came in from someone selling their condo in a highly sought-after neighborhood near Columbus. The home is a spacious two-bedroom with updated appliances, a new roof, and modern bathrooms. It even boasts a community pool and gym, with all exterior maintenance covered by a $250 monthly HOA fee. It’s been on the market for just 4 days, with over 600 views and 35 saves online. Based on the comparable sales the condo in priced just right. Feedback from showings has been mostly positive, but one potential buyer compared the condo to a smaller, more updated one priced $30,000 less and that comment spooked the seller’s agent enough to suggest a price drop already.
Before you start slashing your price, take a breath.
Pricing Panic Is Common
One of the biggest mistakes sellers make is reacting too quickly to feedback. A single comment does not mean your condo is overpriced. In this case, the smaller unit that seemed more updated was also half the size and had one fewer bedroom. Buyers will always compare homes, but it’s your agent’s job to help them see the full picture.
Price positioning is important, but so is patience. If your listing just hit the market and your home is being shown, that’s a great start. Most buyers tour multiple properties before they make an offer, and it can take several days or even a few weeks before serious interest turns into action.
Avoid Premature Price Cuts
Dropping your price too quickly can signal desperation and work against you. Let your open house play out. Give it a week or two to see how traffic continues. If buyers are still showing up and feedback is consistent, then you can revisit your pricing strategy. But there’s no need to panic after one weekend on the market.
Remember, in markets where inventory is tighter or interest rates are high, buyers are slower to make decisions. That doesn’t mean your condo is unsellable it just means the pace has changed.
Your Agent Matters More Than Ever
An agent should be your voice of reason, not your source of anxiety. If your agent is panicking and pushing for an immediate price cut after just a few showings, it may be time for a second opinion. Real estate is emotional, but your strategy should be rooted in data and local market trends, not fear.
Looking for Advice?
If you’re thinking about selling your condo and want expert insight on pricing, prep, and negotiation, I’d be happy to connect you with a trusted real estate agent in your market. Just send me a message and I’ll help you get the guidance you need.
