Goldilocks And The Just Right List Price

Dated: February 4 2017

Views: 319

There’s no online calculator for setting the perfect listing price for your home. It takes experience, market savvy, and even a bit of psychology. A strong listing agent can help you set the right, most competitive price for your home. Here are a few things they might look at:


1. The competition
Your agent will look at the prices of similar homes in your area that either are currently listed or sold during the past few months. They’ll take into account how many days the properties were on the market, and how the listing prices for those homes differed from the final sale prices.


2. Market trends
What’s affecting the market in your neighborhood, and your region? Your agent will consider national factors that shape the real estate market, such as possible rising interest rates, as well as local factors, like whether the average home price in your neighborhood has been rising or falling. They’ll also think about things such as new companies moving to the area in the near future, or plans for improving local amenities, like parks and shopping districts. All can increase the value of your home to a buyer.


3. Your neighbors
Although a home the same size and age recently sold for a high price, your own place might not fetch the exact same fortune if, say, junky cars continue to proliferate in your neighbor’s driveway. On the flipside, if the grass is in fact greener on the other side of the fence, your home’s value may be higher due to your neighbors’ curb appeal.


4. The Goldilocks price
Listing your home at a price that’s “just right” from the start is critical to selling it quickly, for the best price. Overpricing your home, and then dropping the price a few times while it sits on the market, could lead to a lower final sales price than if the home was priced appropriately from the beginning. And, of course, setting a price that’s too low leaves money on the table.


Wondering how much your home might be worth in today’s market? Give me a call and I will be glad to explain how these and other considerations could factor into a pricing strategy for your home.

Blog author image

Charles Chapman

Charles Chapman has more than 20 years' experience in the Montgomery County real estate market. He has been a full-time agent through rising markets and good times, and also through falling markets an....

Latest Blog Posts

5 Tips For Making Your Best Offer

In today’s sellers’ market, standing out as a buyer is critical. Multi-offer scenarios and bidding wars are the norm due to the low supply of houses for sale and high buyer .

Read More

Understand Your Options To Avoid Foreclosure

Even though experts agree there’s no chance of a large-scale foreclosure crisis, there are a number of homeowners who may be coming face-to-face with foreclosure as a possibility. And

Read More

Reasons You Should Consider Selling This Fall

If you're trying to decide when to sell your house, there may not be a better time to list than right now. The ultimate sellers' market we're in today won't last forever. If you’re

Read More

What You Can Do Right Now To Prepare For Homeownership

As rent prices continue to soar, many renters want to know what they can do to get ready to buy their first home. According to recent data from ApartmentList.com: “The first half

Read More