More ultra-luxury sellers face ‘stale’ listings

REALTORMag

In the high-end market, more properties are lingering. Some sellers are having to reduce their prices in the ultra-luxury market, in the hopes of getting a quicker sale. Otherwise, those hoping to hold out for a higher price are finding they’re waiting not months but years to make a sale.

For some, the waiting game is fine, though.

“In most cases, my sellers don’t have to sell,” says Ann MacQuoid, a real estate professional with Berkshire Hathaway HomeServices. One of her clients in Park City, Utah, has a home listed for $10.9 million that has lingered on the market for a year and a half.

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