Cedar Lake Price Opinion

As a professional courtesy, I will occasionally ask other agents to give me a price opinion on an upcoming listing.

And they’ll ask me for the same.

So,  I made a quick trip over to Cedar Lake earlier this week to offer my proverbial two cents on another agent’s upcoming listing.

Elasticity of Demand

My advice?  (which, of course, is never wrong):

The kind of Buyer likely to be attracted to the home (upper bracket with skyline views, Contemporary layout, etc.) isn’t likely to be especially price-sensitive.

So, price matters — just not so much (and yes, I did give a number).

P.S.:  economists refer to this phenomenon as “price elasticity of demand.”  If you’re selling real estate . . . the lower, the better.

About the author

Ross Kaplan has 19+ years experience selling real estate all over the Twin Cities. He is also a 12-time consecutive "Super Real Estate Agent," as determined by Mpls. - St. Paul Magazine and Twin Cities Business Magazine. Prior to becoming a Realtor, Ross was an attorney (corporate law), CPA, and entrepreneur. He holds an economics degree from Stanford.

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