This property has been sitting for 106 days, which is definitely longer than the neighborhood average. The recent $5,000 price cut suggests the seller is feeling the heat. While the house is updated, buyers are likely wary of the appraisal gap and environmental risks.
Here are the main factors impacting the timeline:
Appraisal Gap: The list price is significantly higher than some local valuation estimates, making financing tricky.
Environmental Risks: Major wind and flood scores can hike up insurance premiums for buyers.
Previous Fallout: It was pending in October and came back to market, signaling potential issues with a previous buyer's inspection or loan.
| Market Velocity Data | Current Status |
| :--- | :--- |
| Current Days on Market | 106 days |
| Price Adjustment | Reduced to $120k |
| Rental Demand | High ($1,305 median) |
I’d expect it to linger another 30 to 45 days. An investor looking for a steady rental will likely be the one to pull the trigger. With a 3-bed, 2-bath setup and rent potential up to $1,425, the cash flow is the strongest selling point here.