If your house has been on the market for a while without an acceptable offer, you may be considering reducing the asking price. However, in real estate timing is everything. If you want to increase your chances of a successful sale, you’ll need to choose when to reduce your home’s price strategically.
In this post, our team at Your Home Sold Guaranteed Realty - Barb Has the Buyers Team will discuss the best day of the week for lowering your home’s price while boosting visibility and buyer interest.
Key Takeaways:
- The best day of the week to reduce the price of a house can vary depending on various factors, including market conditions, buyer behavior, and local trends.
- Thursdays are often considered the best day to reduce the price of a house. By reducing the price on Thursday, you give potential buyers time to consider the updated listing before the weekend.
- While Thursdays are often considered the best day to reduce the price of a house, it’s essential to evaluate your specific market conditions and consult with your realtor about what’s best for you.
What is the Best Day of the Week to Reduce the Price of a House?
The best day of the week to reduce the price of a house can vary depending on various factors, including market conditions, buyer behavior, and local trends. However, Thursdays are often considered the best day to reduce the price of a house.
- Weekend Planning: By reducing the price on Thursday, you give potential buyers time to consider the updated listing before the weekend, which is typically when many buyers schedule property viewings and open houses.
- Buyer Attention: Listing price reductions tend to generate increased attention from buyers, especially when they occur just before the weekend. By reducing the price on Thursday, you can capture the attention of weekend house hunters who are actively searching for properties.
- Fresh Listings: Many real estate websites and listing platforms update their search results on Thursdays or Fridays, meaning that newly reduced listings may appear at the top of search results just in time for weekend browsing.
- Open House Preparation: If you plan to hold an open house over the weekend, reducing the price on Thursday gives you time to update marketing materials, inform interested buyers, and generate buzz around the newly reduced price.
- Appearing More Motivated: There is a psychological aspect to pricing reductions, and some buyers may perceive a Thursday price drop as a motivated seller looking to make a deal before the weekend.
The second best option for reducing your home’s price is right at the beginning of the week on Monday. Reducing the price to start off the work week generates maximum visibility because many realtors will be browsing the Multiple Listing Service after the weekend.
Updated listings with price drops are also flagged on real estate sites, so your listing will gain visibility if you update at the beginning of the week. In addition, lowering prices at the start of the week allows time for buyer interest before open houses on the weekend. Just be sure the home doesn’t linger the entire week without any interest.
Get Your Home in Front of Hundreds of Buyers with Barb Schlinker
While Thursdays are often considered the best day to reduce the price of a house, it’s essential to evaluate your specific market conditions and consult with your realtor about what’s best for you.
At Your Home Sold Guaranteed Realty - Barb Has the Buyers Team, Barb Schlinker and our entire team have been in the real estate business for 27 years. We’ve helped thousands of clients in Colorado Springs and the surrounding area market their homes to sell fast.
Plus, our Guaranteed Sale Program provides peace of mind during your sale. To learn more about working with us, call 719-301-1802 or fill out the form on this page.
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