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Hi Gary & Linda,
I want to give you an honest update this week, because that's what you deserve after the time we've had this property on the market. The feedback from recent viewings has been consistent — buyers like the property, but they're comparing it carefully against two others in Mordor that are priced between $699,000 and $729,000. At our current asking price, we're the upper end of the bracket, and buyers are negotiating hard across the board right now.
The Mordor market has softened over the past couple of months. Median days on market has moved from 28 to 39 days, and the most recent comparable sale — 18 Hillcrest Road — sold at $742,000 after 44 days, which was $28,000 below its original ask. This is the market we're operating in, and I think it's important we look at this data together rather than wait and hope the market shifts in our favour.
I'd like to talk to you this week about pricing strategy. I believe a targeted adjustment — not a dramatic drop — positions you in front of a fresh pool of buyers who were previously looking at a lower bracket and may now stretch. I've seen this work effectively for two of my other vendors this month. I'll bring the comparable data to our conversation so we can make this decision together, based on evidence, not emotion.
You've been patient and I appreciate that. My job is to get you across the line — and I'm confident we can, with the right repositioning. I'll call you Thursday morning to discuss. As always, you can message me anytime.
Peter Devon
