A practical trigger based on the typical sale timeline
You are deciding whether to stay the course or make a price adjustment to get your home sold. In Franklin, NJ, I use the typical sale timeline as the decision trigger, because it keeps emotion out of the process.
One fast way to anchor that decision a typical sale took 35 days last month, so I do not let a listing drift far beyond that without a specific plan.
Here is the constraint I plan around based on the previous 30 days a typical sale in Franklin, NJ took 35 days last month, and buyers paid about 102.9% of asking. Supply was reported at 1.2 months recently. Those numbers point to a market that can reward a well-positioned listing, but also one that exposes a pricing mismatch quickly.
Where people get this wrong is assuming that a seller-friendly market means any price will work if you wait long enough. Some metrics were not reported for this period. I cannot confirm from these numbers how many showings you should expect, but I can say that if buyers are paying over asking, the homes that sit are usually the ones not meeting the market on value, condition, or both.
Set your review point around the 35-day pace and decide ahead of time what action you will take if activity is not strong. If your home is priced to invite competition, protect that position with crisp presentation and a clean path for buyers to say yes quickly. If you are past your planned window, make one decisive adjustment that repositions you into the next active buyer pool, instead of a series of small cuts that still leave you looking overpriced in Franklin, NJ.
