Ballantyne house sat 90 days before they dropped the price by 15k - smart move or desperate?

Last month I saw a 4 bed 2 bath in Ballantyne listed at 525k that did zero open houses for a month, and then suddenly they dropped it 15k after 90 days on market. My realtor buddy says sellers are testing the waters with higher prices now, but I think waiting that long just makes buyers wonder what's wrong - what side of this are you guys on for Charlotte's current market?

2 comments

2 Comments

the_cora17d agoTop Commenter

Thinking it's neither... honestly a 15k drop after 90 days is almost standard procedure around here. Sellers overprice at the start hoping someone bites, then slowly creep down. 15k on a 525k house is like 3%, which barely covers closing costs. If they were desperate they'd chop 30k or more overnight. This is just the usual dance of testing the market without looking too eager.

riverf3417d ago

Laughing at the "slowly creep down" part like it's not still overpriced.