There is so much that goes into effectively pricing your home. Yes, numbers are key but instinct, the state of the market and location all play a large role as well. Today’s buyers are more savvy than ever before, and thanks to the internet, everyone has access to what’s out there at what price point. Now more than ever, appropriate, realistic pricing is the key to getting your home to move off the market. If a home is overpriced, it doesn’t matter how beautiful or updated it is, or how well it shows- it. won’t. sell. A property that is overpriced will always have less, if any, showings. More or less, overpricing a property will be the clincher for any listing. A home that is priced competitively however, can lead to more interest and multiple offers which helps you secure the very best price.
Start by getting a home value estimate- which you can request right here on our site. A home value estimate is determined by doing a comparative market analysis on your home- which is basically rounding up comps, (properties that are most comparable to yours) which we evaluate to help nail down a strategic price. Comps are chosen by factors like neighborhood, finishes, square footage and year built, then weighed by variables- no two neighborhoods or homes are alike.
What neighborhood your property is in is another large determining factor in the value of your home. Two homes could be more or less identical, but the neighborhood or location they stand in will hugely affect the properties’ value. Location impacts home value because it directly relates to schools, amenities, accessibility and lifestyle.
In addition, the market affects your property’s value. It’s basic supply and demand- the amount of inventory in the location of your property will affect your home value estimate.
If you’re interested, sign up to receive a free estimate of your home’s value. It’s our gift to you. Or, if you have a home on the market that’s not moving feel free to reach out- we’d love to give you our expert opinion.