Pricing Your Home to Sell
One crucial thing a home seller needs to know is how pricing your home correctly from the start can make or break your sale. Overpricing can lead to your listing sitting on the market too long, becoming "stale," and ultimately selling for less than it could have if priced right initially.
Use a Comparative Market Analysis (CMA):
Review recent sales of similar homes (comps) in the area—same size, condition, age, and location. Pay attention to price per square foot, days on market, and any concessions given.
Know the Current Market Conditions:
In a seller's market (low inventory, high demand), you may have more flexibility to price aggressively. In a buyer's market, you'll need to be more competitive.
Consider Online Pricing Psychology:
List at strategic breakpoints (e.g., $499,000 instead of $501,000) so your home shows up in more search filters.
Factor in Condition and Upgrades:
Homes in turnkey condition or with valuable upgrades (new roof, kitchen remodel, etc.) can justify a higher price—but don’t overestimate the value of cosmetic updates.
Look at Active Listings—Not Just Solds:
These are your competition. If you’re priced higher with fewer features, buyers will notice.
Avoid Emotional Pricing:
Sellers often overvalue their homes due to emotional attachment. It’s vital to stay objective and listen to market data.
Be Prepared to Adjust:
If you don’t get showings or offers within the first 2-3 weeks, the market may be rejecting your price—and a reduction might be necessary.
Contact Allen Deaver of Asset Realty for a Free No Obligation Market Analysis of your Home
