The majority of prospect activity on a new listing occurs in the early period of marketing. This happens because REALTORS® maintain an inventory of active prospects that have been cultivated over time. When a home is newly listed, REALTORS® arrange for them to see it. Once this active group has seen the property, showing activity decreases to only those buyers new to the market. For this reason, it is important that sellers present their homes in the best condition and at the best price at first exposure to the market.
At some percentage over market price, no reasonable amount of time will produce a sale. Even when priced right for the market it may require a month or more of exposure to sell.
The wrong price attracts the wrong buyers and the right buyers won’t see it.