Listed our house mid July. Had an offer the very first day. They backed out due to “cold feet” a week later. Since then we have only had 2-3 showings a week with no offers. Other houses in my neighborhood have all been sitting as well.
We live 15 minutes outside the metro, smaller, but growing city. I have the second largest lot in my neighborhood, moderately updated, one of the larger homes, but no three car garage. I have priced around what recent sales did earlier in the year.
If I cancel the listing and relist it to start the days on the market counter to zero, will that affect anything? I know agent can see the history of the house and everything, but I’m not sure if it would even matter in this market.
Any advantage to restarting the “days on the market” counter?
byu/TCopp28 inRealEstate
Posted by TCopp28
18 Comments
Imo it doesn’t matter. Zillow will show the date every time you re-list it, so you’re not fooling anybody. If it won’t sell, you’re priced too high, that’s the reality.
Edit: fixed typo
People will be able to tell you are trying to trick them
What a complete waste of time.
Cancelling and relisting won’t help. As a buyer, it looks sus. You need to drop the price. And do a big drop, not a couple thousand dollars.
I’ve bought 5 houses in my life (never owned more than 1 at a time FWIW).
Every time, I intentionally prefer houses that have been on the market for more than a month or two. I have no interest in bidding wars and forgoing inspections. I’ve preferred to have the luxury of looking at houses and having a few nights to sleep on any decisions.
It depends on both your market on your Mls and how you’re going to present it when agents ask you about it
Re-listing will show as a new listing to the MLS and any buyers interested in homes in your area. It will hit anyone with a search program as a new listing. Some MLS areas require a 30 day interval before the DOM resets to zero. So you may get a bump that way but yes, agents and buyers will dive in to history and DOM.
Yes, time to cancel that listing and do a new one. This will bring it to the top of the search results.
No advantage at all.
At this stage, if you’re able I’d pull it, make a few cosmetic updates over the winter, and relist in spring at an aggressive price based off comps.
I am currently in a similar situation, 22 houses for sale in my neighborhood and none are selling for months now. I did a $30k price drop, just under $600k now, sparked a lot of interest but no offers.
I am now the least expensive house in the neighborhood (very nice gated community) and about to hit 90 days on the market. If you go cost per square foot, I am leaps and bounds cheaper (4000 sq ft 5 bed house),
*** I know I have some undesirable qualities in my house. The kitchen is a little on the smaller slide, and my lot has a steep slope to one side, these are the main reasons I am priced low.
I keep reading here to lower the price if it isn’t selling, but 22 houses are not selling, not just mine. Average time to sell in my area went from 44 days to 90 days over the past 10 months.
I had a home inspection and fixed everything they found (nothing major) I hired a cleaning crew to shine the house up like a new house. HVAC is 4 years old with 10 year warranty, mix of real hardwood and carpet, the carpet is 4 years old, hardwoods are in great shape. Whole house top to bottom got fresh paint the week before we moved out. most of the appliances are new (including induction cook top).
My realtor, other agents on his team, and so far 3 visiting realtors cannot believe no offers are being made with how awesome the house shows (clean, bright, open, tons of space) and how low the price is already.
I am at a loss. Yes I can afford to cut the price another $20k, but past that would be painful to do.
That’s probably not going to fool anyone because the listing history is usually shown on listing websites.
That might make it look like something is wrong and deals keep falling through due to a problem with the house.
Days on market isn’t your problem.
It doesn’t hurt to take it off the market, make corrections (price, paint, finishes, decluttet) and then relist, but just relisting to reset DOM isn’t going to make a difference in a vacuum.
” Since the no offers. Other houses in my neighborhood have all been sitting as well. ”
“I have priced around what recent sales did earlier in the year. ”
Listen to your post…
No offers.
Other homes sitting
Priced by sales earlier in year
You are priced too high.
Earlier in the year doesn’t cut it. Everyone’s wishes they sold at top of market i wish I sold my biotech stock at tops before it tanked to 0.
The US is currently volatile, after Bidenomics Inflation and now Trump tariffs/inflation and the current unemployment rate and layoffs…
Home prices have been stabilizing or falling.
Look at recent sales for the past month, and drop your price accordingly.
In my area, the listing agents are pricing way over market are just taking advantage of their sellers. The sellers are desperate to sell, but the listing agent only cares about how much money they can pocket. 2,3,4, months on market and still priced above market.
The main purpose of that is it pushes it up in the search algorithms a little. It’s good to combine with a solid price reduction. Be careful just looking at sold comps as you can end up slowly chasing the market down. Always look at all active listing with 6 miles to see where the current pricing is at. Buyers are looking over a much bigger area than what sellers comp at. If you can easily find better deals actively listed then you have your answer as to why your place isn’t selling.
I believe to truly reset the counter it has to be off the market for 30-90 days (local MLA specific). Otherwise it’s just a little lipstick on the pig. Even with a complete reset, the history is there in the MLS, the activity will show list date, contingent date, reactivation date cancelation date, but the actual counter is reset to 1.
I think your objective is to get more attention to your listing.
‘Lower your price’ is irrelevant to your situation which is the stagnant current market as exemplified by @kenny71406 above. There’s too much uncertainty about jobs and whimsical daily policy machinations of the current administration.
Markets are not going to move unless there’s a change in the White House. Put your property up for rental if you can afford to do so. At least it will save you the bleeding of carrying costs over the remainder of this presidential term.
Price is huge, but as I’m finding as I do my own house hunting, it’s also an overall vibe. I’ve walked into many houses that the layout should be exactly what I want, but the vibe felt off.
Sometimes it’s just not the right buyer and there seem to be way less buyers right now.