There’s no denying we’re in a sellers’ market.
With low inventory and high buyer demand, homes today are selling above
the asking price at a record rate. According to the latest Realtors Confidence Index Survey from the National Association of Realtors (NAR): Because so many buyers are competing for so few homes, bidding wars are driving up home prices. According to an average of leading expert projections, existing home prices are expected to increase by 8.9% this year. Yet even in today’s red-hot sellers’ market, it’s important to price
your house right. While it may be tempting to price your house on the
high side to capitalize on this trend, doing so could limit your house’s
potential. Here’s the thing – a high price tag doesn’t mean you’re going to cash in big on the sale.
While you may be trying to maximize your return, the tradeoff may be
steep. 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. Instead, focus on setting a price that’s fair. Real estate professionals
know the value of your home. By pricing your house based on its current
condition and similar homes that have recently sold in your area, your
agent can help you set a price that’s realistic and obtainable – and
that’s good news for you and for buyers. When it comes to pricing your house, working with a local real estate
professional is essential. Let’s connect so we can optimize your
exposure, your timeline, and the return on your investment, too.Selling Your House? Make Sure You Price It Right.
Why Pricing Your House Right Matters
When
you price your house right, you increase your home’s visibility, which
drives more buyers to your front door. The more buyers that tour your
home, the more likely you’ll have a multi-offer scenario to create a
bidding war. When multiple buyers compete for your house, that sets you
up for a bigger win.Bottom Line
