Why it’s critical to price your house right: Don’t rely on guesswork
When you make a move, you want to sell your house for the highest price possible. That might be why many homeowners are eager to list in today’s sellers’ market. After all, with record-low inventory and high buyer demand, many homes are selling for more than asking price. Data from the National Association of Realtors (NAR) shows 46% of homes are selling above list price today.
The price you set for your house sends a message to potential buyers. Price it too low and you might raise questions about your home’s condition or lead buyers to assume something is wrong with the property or you may be leaving money on the table, which decreases your future buying power.
On the other hand, price it too high and you run the risk of deterring buyers. When that happens, you may have to do a price drop to try to re-ignite interest in your house. But be aware that a price drop can be seen as a red flag making some buyers wonder why the price was reduced and what that means about the home.
In other words, think of pricing your home as a target. Your goal is to aim directly for the center – not too high, not too low, but right at market value. Pricing your house fairly based on market conditions increases the chance you’ll sell the home quickly and have more buyers who are interested in purchasing it, making it more likely you’ll see a bidding war. And when a bidding war happens, you’ll likely get an even higher final sale price.
Several factors that go into pricing your house. That’s why it’s important to lean on an expert real estate advisor when you’re ready to move. A local real estate advisor is knowledgeable about:
- The value of homes in your neighborhood
- The current demand for houses in today’s market
- The condition of your house and how it affects the value
A real estate professional will balance these factors to make sure the price of your house makes the best first impression and gives you the greatest return on your investment in the end.
Bottom Line: Even in a sellers’ market, pricing your house right is critical. Don’t rely on guesswork. Let’s connect to make sure your house is perfectly priced.
Questions about buying or selling a home in Beaverton? Contact Donna Meeuwsen at 503.583.3200 or email firstname.lastname@example.org