10 Deer Park Court has a contract after just eight days on the market. This time, it was priced at $3.595 million, whereas when the owner and her previous agent tried to sell it in 2016-2017, they started at $4.750 and over the ensuing year of failure only cut the price to $4.450.
This sale will undoubtedly be shown in our MLS statistics as selling almost instantly at very close to its asking price, but a lot of our resurgent sales activity this spring can be attributed to situations like this: the owners have finally grown tired of holding on to homes they no longer want, and are cutting their prices to more reasonable levels.
Buyers who can afford to wait should practice patience with overpriced homes. Owners with unsold homes, however, should employ the opposite tactic: don't sit on an overprice home, patiently waiting "for the right buyer" to come along.