Because of people. There are many numbers and statistics we use in this business to determine the value and marketability of a property. But the one thing that cannot be measured or qualified is the effect of personal emotions. It is not unusual for a buyer to pay over market value for a home if there is something about it they really want. It could be timing (they need a quick or delayed closing and the seller can accommodate), a location benefit (a view, a friend or relative lives nearby, proximity to a desired amenity), or maybe a unique desired feature (special room, studio, specific layout, exquisite garden). If it is something the buyer values and wants, they will pay for it.
On the flip side, a seller who is committed to moving and knows exactly where they want to go, will price, present and promote their home to achieve that goal by investing in staging and presentation, keeping the price competitive, making showings easy, and negotiating successfully. Sellers who are committed to a particular price or time frame, or who feel less certain about moving, will often find the process challenging. Their price and presentation will be less than optimal, negotiations will often fall apart – even if they connect to a good buyer, and professional recommendations will often be dismissed or ignored.
Buying or selling a home is a process. The more certain you are about what you want or where you are going, the better the process will feel and the happier you will be with the outcome. 🙂