Pricing Your Home to Sell
It's no secret that it's a seller's market. And there's no denying that home prices have risen quite a bit due to buyer demand and high competition. I can understand where pricing your home on the high end can be tempting because of these reasons, but you should understand the importance of pricing your home correctly. In any market.
Here's the big takeaway: a high price tag doesn’t mean you're going to make that from the sale.
A high list price is more likely to deter buyers, sit on the market longer, or require a price drop that can raise questions among prospective buyers.
Data from the National Association of Realtors (NAR) shows that homes that are priced right:
Sell within 17 days
On average has five offers to pick from
54% of offers are over the asking price
Most of the time, pricing your home correctly leads into a bidding war, giving you as the seller the leverage to negotiate the things that are important to you. Such as that higher sale price, closing on your terms, maybe you need a temporary occupancy, or maybe you don't want to repair anything.
Bottom line: I highly recommend working with a Real Estate professional who understands the market trends in your neighborhood. They will help you maximize the sale of your home in the correct way.
