Where I begin is to look at the sales statistics on the Northwest MLS.  The pending sales better reflect the current market than active listings or those that may have closed more than 3 months ago. In a changing market, you may find that your best chance of getting sold is in the range of those that are getting ready to close and not those that are closed. However, in a market like ours, where there are not many pendings or closed this is sometimes a difficult way to do an analysis. So we take into consideration both pendings and solds, with the heavier emphasis on pendings.

The ideal market has about 6 months of inventory.  Our market currently has approximately 15 months.  With this much inventory, getting your home even on the homes to look at is a challenge, and pricing is one of the top considerations. 

As a seller, it is important that you understand that the market will determine the final selling price. I can't take responsibility for market conditions. My job is to help you understand where the market is, and what the price range your home will sell in.

 The home has to be priced so that it’s considered by buyers to be within the top two or three values in that price range. If the market is very slow, your home may have to be the best home value in its price range. 

Industry standards suggest that if you haven’t received an offer after 8 to10 showings, a price adjustment is probably necessary. We would want to sit down and re-evaluate whether the market had changed, and if we needed to make an adjustment.