Priced to Sell: How does listing price affect days on market?

When the original list price is on target, homes move quickly. Listings that have to come down in price by even 5% can stay on the market for weeks.

Homes listed at _____% of ultimate selling price

It is most common for listings to be priced at the sale price. 25% of listings are priced within 1% of the eventual sale price. 56% of listings are priced within 4% of the sale price. Only 33% are listed above the sale price by 5% or more, and 4% are listed more than 5% under the sale price.
Source: Indiana Association of REALTORS®Get the dataCreated with Datawrapper