A townhouse in my previous community opened on the same day as ours at 10k higher than our list price. Both of our houses had open houses same weekend obviously, and it was clear during our open house that either the owner or the agent had come to “check out” our house that was listed 10k under. This guy went on and on about how things were bad in our house, and our house would have no chance of selling compared to the other house which was much better and “only” 10k above. Except, we had a pro realtor who knows that community inside out and was not frazzled one bit. In a month, we sold the house for 10k less than list price, but given the market it was the right call.
The other house? It stayed on the market. The owners refused to bring down their price for a good month (even after ours went on pending), and eventually after one month they dropped it by 25k, and now after 2 more months today, they dropped it by a good 50k, bringing their list price down 75k. We honestly couldn’t have timed it better, and for once I appreciated our realtor (who was very good anyway) who convinced us with her expertize in local area. Phew!