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I've done a recent data anaylsis on homes that have sold in the Rochester area the last 60 days.  Homes priced right up front sell quicker and for more money than homes that sit on the market.  Here is a breakdown of the sales and percentage of the original List Price that they sold for. 

1-44 Days on the Market sell for 97.68% of List Price

45-124 Days on the Market sell for 91.23% of List Price

125 Days on the Market and Up sell for 85.16% of List Price

I studied appoximately 100 homes in each bracket above and will continue to study the numbers each month.  The bottom line is that homes that are priced at Market Value tend to sell quicker and for more money than homes that linger on the market with few showings and no offers.  The sign of a home priced right is frequent showings and some hint that an offer might coming.