We have pulled together some sales information about Rogers luxury homes.  I have had a few folks ask, what about luxury homes in Fayetteville, Springdale, Bentonville, or Bella Vista?  Well, if you really need some information about a luxury home in any of these parts of NWA, just shoot me an email or call me at 479.633.7775 and I will be happy to look up information and even luxury homes sales statistics for any part of Northwest Arkansas, Northeastern Oklahoma, Southwest Missouri, or any other area that is serviced by ARKMLS.

Now as we looked over this chart for luxury homes currently on the market in Rogers, and compare that with the sales information for Rogers luxury homes over the last 30 days, we came to a few conclusions.  See below the break for some of the luxury home analysis and what you need to know to sell your luxury home in Rogers AR.

So what if we are going to be listing your luxury home for sale?

1. First, price does matter.  We have enough luxury homes for sale in then $200,000 to $400,000 range in Rogers right now to last us almost 2 years at the current rate we are selling them.  So if you are going to put YOUR luxury home up for sale, you need to make sure that your price is below average.  There is no other way to compete.
2. With almost 3 years worth of luxury home inventory in the $400,000 and up prices, if you have a home that you are thinking about listing for just over $400,000, you might think about lowering to under $400,000 and take advantage of a greater number of buyers.
3. As luxury home prices rise, so does the discount that can be expected to a buyer.  In the lowest price range of these homes that sold in Rogers in the last 30 days, the sale price was only discounted about 4%.  On the over $800,000 luxury homes, over the last 90 days, the discount was more like 12%.
4. Buyers and sellers are not expecting huge price discounts.  If you list your home for sale here in Rogers Arkansas, for say $300,000, thinking that someone will offer you $250,000 and you can settle where you really want to be at $275,000, you are probably wrong.  Most buyers won’t expect a seller to lower the price on a luxury home in that price range 10%.  You need to put a list price about 5% over what you want to get for your home.  Then you have a small margin to negotiate down, but you won’t price your self out of the market.
5. Moving away from pricing on the Rogers luxury homes that have sold lately, you have DOM (Days on Market).  The higher priced your home is the more days it will probably be on the market.  It is taking 6 months or more for the average luxury home in Rogers to sell.
6. With only 14 luxury homes priced over $200,000 sold in Rogers in the last 30 days, you can see that it is going to be important to do everything right:
   • Get a great realtor who will help you set a great price.
   • Make sure your home looks fabulous.  Remove clutter, think about staging.  You need to be head and shoulders above the rest.
   • Be careful about putting up great signing.  Make sure that you have some directional signs out for drive-bys.
   • Use social networking, video, and other internet resources.  In the luxury home market, more buyers are starting their search on the Internet.
   • Be prepared to show.  Just this weekend, I made a number of calls to show homes, and we couldn’t get folks to commit to show.  In this market, be ready to show.
   • This last one is just a personal favorite.  When I show luxury homes to buyers, I want to make sure they are ready to pull the trigger on a purchase.  Ask your Realtor to have anyone who wants to come for a showing have a pre-qual letter or proof of funds.  There are just too many “tire-kickers” out there for you to spend time on preparing for a non-buyer.
7. The more luxurious a home is, the more money we are getting per square foot.  These also tend to be larger homes on larger lots.

If you have any questions, or would like more information about your neighborhood, feel free to contact me right now by email at james@rogersmls.com or call 479.633.7775