How Many Comps Must be Reviewed to Choose a LIsting Price?

Answer - just one.

Scenario: owner wants to list and sell a condo unit. The conversation we had about the desire to sell centered around what it is worth vs. what will the right list price be.

There is a neighbor on market in the same condo building with a very similar unit on market and under contract, and under contract in less than 2 weeks! The average market time in this neighborhood for condos over the past 6 months is 130 days.

There's a lesson in there somewhere, and the lesson was all about pricing with the goal of getting it sold.

It is not always easy to let go of the dream of selling for top dollar in this lackluster real estate market (Chicago), particularly when it comes to condominiums. But when reality comes calling (as in "I MUST sell it this spring!"), letting go is the only way to go.