The importance of pricing your home correctly as the market shifts.
Do you know how to correctly price your home in this quickly changing market? We frequently get asked why one home isn’t selling or why one sold so quickly, and we believe that price plays a big part in this. The market has changed so much since the summer, and it continues to change, so it’s important that we all adapt, even with prices.
During this time last year, 41% of homes sold above their list price. Many people think that’s not possible today, but the truth is that at the end of September, 28% of homes still sold above their list price. We want to help sellers like you get this opportunity with your house, so we have some advice.
There are two components that you need to pay attention to, and they are price and condition. Know that your price has to be appropriate for the condition of your home. Great homes with great prices will sell quickly and oftentimes over their asking price. Great homes with average prices may sit on the market. Average homes with great prices can sometimes sell quickly. Lastly, average homes with average prices will sit for a very long time.
Therefore, make sure to work closely with your agent to pick the price that will cause your home to sell. It may not be the actual price it sells at, but you want to work hard to be competitive and to be seen as the best value in the market so that buyers naturally choose you. The last thing you want to do is have the house that sits on the market and helps the other houses around you sell.
Reach out to a member of our team with any questions about what your home is worth in today’s market. You can call or email us anytime, and we would love to hear from you.