The Owner Listed a Property for 140% More Than She

question 50

Short Answer

The owner listed a property for 140% more than she paid for it 12 years ago. After receiving no offers during the first 3 months of market exposure, she dropped the list price by 10%, to $172,800. What was the original price that the owner paid for the property?

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Definitions:

Market Entry

The process or strategy by which a company enters into a new market or industry, often involving overcoming barriers to entry and competition.

Market Exit

The process of a company or business stopping operations or leaving a specific market or industry.

Concentration Ratio

The share of industry output in sales or employment accounted for by the top firms.

Industry Output

The total production or quantity of goods and services produced within a specific industry over a given period.