5 Ornata Place, Tuncurry

Sold 1st January 1970 | by

140

Days on Market

Sold for $767,500

Originally listed with another agency at an inflated price, this property struggled to generate buyer interest. Overpricing led to extended days on the market, creating a negative perception among buyers. After re-evaluating the price within the market and relaunching with an improved marketing strategy, the property attracted serious buyers and ultimately sold within our appraisal range.

  • 140 Days on Market – Initially overpriced, resulting in prolonged selling time and reduced buyer engagement.
  • Listed at $825,000 – High initial expectations prevented competitive buyer offers.
  • Revised to $769,000 – A strategic pricing adjustment brought the property back into competition.
  • Final Sale Price: $767,500 – Within our original pricing recommendation, proving the importance of correct positioning.

Key Takeaway: Overpricing can lead to extended time on the market, ultimately reducing buyer confidence and resulting in lower final offers. By adjusting the strategy and correctly positioning the property, we successfully achieved a sale within market expectations.