Fishing for Big Dollars

Jonathan Miller wonders about some of the listings out there these days:

I wonder if any meaningful proportion of the residential listings currently on the market are sellers who are not serious and/or are “trolling” for a crazy price. I know several people personally who have their apartments listed but whose selling is strictly optional (meaning, they don’t have to relocate, don’t need a larger space for more kids, etc.), and their pricing reflects their flexibility. They offer what they consider to be a “score” price, meaning if they sold it at that they’d be very happy with their returns. That might be one of several contributing explanations to the reduction in sales volume without a related reduction in prices…

Absolutely there are still some “fishers” out there, hoping for a crazy price. But from what I have seen the numbers of those type of sellers have dwindled significantly in recent months.

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