What is the Most Important Thing to Know About Your Asking Price?

When you put your house on the market, there are two things that you’re obviously hoping for - that it will sell quickly, and for the best price possible. While that is the goal, too many sellers are pricing their homes too high for the current market. There are variables but the market has shifted, as inventory has grown. The side effect? Price adjustments are on the rise, but that doesn’t always have to be the case. 

Here is why…

According to data from Realtor.com, price cuts in February were the highest they have been in any other year, since 2019. The below graphic from Keeping Current Matters illustrates this data.

Many real estate experts consider 2019 the last true normal year for the housing market (pre-pandemic) - that’s a big deal. So, today’s figures show that we are getting back to what’s typical for the market.

We aren’t in the same frenzied market from a few years ago. Which means, your home may not be valued for what you may have seen your neighbor get at the height of the pandemic.

Expectations for sellers need to be adjusted as we ease back into a more typical market. Here is the reality - if you shoot too high, buyers may be turned away from seeing your home. This will likely lead to needing a price adjustment, more days on the market, and speculation from potential buyers as to why the longer market time.

How do you avoid it? Working with me and my 45+ years of trusted real estate experience, right here in the local market.

How can I help you list at the right price?

I don’t just pull a number out of thin air. I’ll use real data and local market trends to make sure your home is priced correctly for your neighborhood at the time you enter the market. This ensures that you’re setting a realistic price - one that will draw serious buyers. I supply the facts, make recommendations and you determine the price.

Here are a few things I look at when determining the right asking price for your house:

• Recent Sales: What did similar homes in your area actually sell for? (Not listed for, sell for.) And, what are the conditions of those homes in comparison to yours?

• Local Market Trends: Your home’s value isn’t always determined by how much you want for it, but by what buyers in your area are willing to pay for it.

• The Right Strategy: I’ll make sure your home is priced to attract attention and create a sense of urgency among qualified buyers.

  
  

The last thing you want to do is price your home too high, watch it sit, and have to do a price adjustment to get a buyer's attention. Let’s schedule a meeting and talk about your home, so this doesn’t happen to you. 

If you want to make sure your home sells quickly and for the best price? Let’s talk about the right pricing strategy for your home! With me, you don’t have to enter the real estate market alone. 

Give me a call for a FREE consultation today at (440) 341-1830 or you can email me at steve.forsythegroup@gmail.com