{"id":350178,"date":"2025-12-18T21:55:01","date_gmt":"2025-12-18T21:55:01","guid":{"rendered":"https:\/\/peraltafinancing.com\/business\/real-estate\/sold-comps-arent-enough-anymore-start-with-active-and-withdrawn-listings-we-may-see-the-market-shift-more-clearly-by-march-april\/"},"modified":"2025-12-18T21:55:01","modified_gmt":"2025-12-18T21:55:01","slug":"sold-comps-arent-enough-anymore-start-with-active-and-withdrawn-listings-we-may-see-the-market-shift-more-clearly-by-march-april","status":"publish","type":"post","link":"https:\/\/fivemor.com\/?p=350178","title":{"rendered":"Sold Comps Aren\u2019t Enough Anymore \u2014 Start With Active and Withdrawn Listings. We May See the Market Shift More Clearly by March\/April."},"content":{"rendered":"<p> <br \/>\n<\/p>\n<div>\n<p data-start=\"190\" data-end=\"328\"><a href=\"https:\/\/www.realcentralva.com\/2007\/02\/01\/sold-comps-now-matter-less\/\">I first wrote about this in 2007 \u2013 Sold Comps Matter Less<\/a>. Nearly two decades later, the core message is relevant again \u2014 but the context has shifted dramatically.<\/p>\n<p data-start=\"330\" data-end=\"512\">There was a time when pricing a home in Charlottesville was simple: look at the sold comps, justify the number, and move forward. That was the backbone of every pricing conversation.<\/p>\n<p data-start=\"514\" data-end=\"526\"><strong>Not anymore.<\/strong><\/p>\n<p data-start=\"528\" data-end=\"658\">Today, sold comps still matter, but they\u2019re only one part of a much larger picture within so very many Charlottesville micro-markets. Accurate pricing now depends on understanding:<\/p>\n<p data-start=\"998\" data-end=\"1251\">For many years, buyers had almost nothing to choose from. Now, inventory is still low but rising, while buyer demand is easing \u2013 economy, job market, prices, interest rates, uncertainty \u2013 pick your topic and it\u2019s affecting the Charlottesville and national real estate markets. In many neighborhoods, there are several active listings instead of one. And they\u2019re sitting longer than five or six days.<\/p>\n<p data-start=\"1253\" data-end=\"1345\">This means your pricing strategy must do more than justify a number \u2014 it has to <em><strong data-start=\"1333\" data-end=\"1344\">compete<\/strong><\/em>.<\/p>\n<p data-start=\"1347\" data-end=\"1605\">Once I run a home through multiple pricing models and compare it against everything in the segment, we decide whether \u2014 and by how much \u2014 we need to undercut the competition. The Charlottesville real estate market \u00a0is shifting, and by March or April we\u2019ll see even more clearly how much.<\/p>\n<p data-start=\"1607\" data-end=\"1740\">One thing is certain: a price based on \u201cwhat I want or need to make\u201d is no longer realistic. The market decides value, and it does so quickly.<\/p>\n<h3 data-start=\"1742\" data-end=\"1789\">Two truths I remind clients of in every market:<\/h3>\n<ol data-start=\"1791\" data-end=\"2076\">\n<li data-start=\"1791\" data-end=\"1942\">\n<p data-start=\"1794\" data-end=\"1942\"><a href=\"https:\/\/realcentralva.substack.com\/i\/47744193\/price-matters\"><strong data-start=\"1794\" data-end=\"1820\">Overpricing is costly.<\/strong><\/a><br data-start=\"1820\" data-end=\"1823\"\/>If the market doesn\u2019t support your price, it will show you immediately \u2014 and adjusting later is always more painful.<\/p>\n<\/li>\n<li data-start=\"1944\" data-end=\"2076\">\n<p data-start=\"1947\" data-end=\"2076\"><a href=\"https:\/\/www.realcentralva.com\/2010\/08\/26\/proof-that-price-matters\/\"><strong data-start=\"1947\" data-end=\"1985\">Underpricing corrects upward fast.<\/strong><\/a><br data-start=\"1985\" data-end=\"1988\"\/>If the demand is there, the market will push the price where it needs to go. Quickly.<\/p>\n<\/li>\n<\/ol>\n<p data-start=\"2129\" data-end=\"2368\">Buyers in your segment are watching their \u2013 and your \u2013 market band. \u00a0like hawks. They know the market; they study it and check Zillow religiously and frequently. They know the comps. And they know when a seller\u2019s expectations don\u2019t match the market.<\/p>\n<p data-start=\"2129\" data-end=\"2368\"><strong><a href=\"https:\/\/www.wsj.com\/real-estate\/when-home-sellers-set-prices-too-high-theyre-paying-for-it-86fe1866?st=xeeaKh&amp;reflink=desktopwebshare_permalink\">Even the Wall Street Journal has noted this trend \u2013 When Home Sellers Set Prices Too High, They\u2019re Paying for It<\/a><\/strong><\/p>\n<p><em>\u201cIf you are serious about selling your home, you might need to drop the price.<\/em><\/p>\n<p><em>Overpriced houses are languishing on the market as buyers continue to be deterred by elevated mortgage rates and persistent economic uncertainty.<\/em><\/p>\n<p><em>Many sellers optimistically price their homes based on sales from earlier in the 2020s, when they saw neighbors\u2019 homes get snapped up quickly at high prices.<\/em><\/p>\n<p><em>\u2026<\/em><\/p>\n<p><em>Setting a price too high can make the sales process drag on. Listings that sold after a price reduction typically spent about five times as many days on the market as the average for homes priced right from the start, according to data from NAR. <\/em><\/p>\n<p><em>\u2026<\/em><\/p>\n<p><em>When sellers can\u2019t stomach a big price cut, some opt to take their home off the market in hopes that they can relist it later at a more favorable time. <strong>They often face a deeper price cut later, though<\/strong>. (bolding mine)\u201d<\/em><\/p>\n<p data-start=\"2370\" data-end=\"2507\">If you\u2019re preparing to sell \u2014 or even thinking about it \u2014 now is the time to understand where your home fits in today\u2019s market realities. I\u2019m here to help; <strong><a href=\"https:\/\/www.realcentralva.com\/contact-me\/\">ask me.<\/a><\/strong><\/p>\n<\/p><\/div>\n\n","protected":false},"excerpt":{"rendered":"<p>I first wrote about this in 2007 \u2013 Sold Comps Matter Less. Nearly two decades later, the core message is relevant again \u2014 but the context has shifted dramatically. There was a time when pricing a home in Charlottesville was simple: look at the sold comps, justify the number, and move forward. That was the [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":350179,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[99],"tags":[3184,29103,14512,26235,19118,48933,11209,11637,1170,5454,30726],"dealstore":[],"offerexpiration":[],"class_list":["post-350178","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-real-estate","tag-active","tag-anymore","tag-arent","tag-comps","tag-listings","tag-marchapril","tag-market","tag-shift","tag-sold","tag-start","tag-withdrawn"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v26.4 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Sold Comps Aren\u2019t Enough Anymore \u2014 Start With Active and Withdrawn Listings. We May See the Market Shift More Clearly by March\/April. - Som2ny Network<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/fivemor.com\/?p=350178\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Sold Comps Aren\u2019t Enough Anymore \u2014 Start With Active and Withdrawn Listings. We May See the Market Shift More Clearly by March\/April. - Som2ny Network\" \/>\n<meta property=\"og:description\" content=\"I first wrote about this in 2007 \u2013 Sold Comps Matter Less. Nearly two decades later, the core message is relevant again \u2014 but the context has shifted dramatically. There was a time when pricing a home in Charlottesville was simple: look at the sold comps, justify the number, and move forward. 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