The Cost of Over Pricing (by even a little)

We have seen it over and over. Houses that are priced just a little over the market"s sweet spot just languish. 558 Greer is priced at $1.299m, 3 bedrooms, 2 baths, 1,350 square feet on a 6,000 square foot lot, nicely updated with a new kitchen, and in Duveneck School district. It's been on the market for 10 days, which might not seem like much until you consider 2137 Bowdoin in College terrace, a 2 bedroom, 2 bath fixer on a 4,500 square foot lot that was priced at $728 and sold for $1,000,000 in 9 days. Or 3499 Greer in South Palo Alto - a 4 bedroom 2 bath Eichler, very little updating, and on a busy part of Greer, listed for $969k, under contract after 7 days and 23 offers.