Properly pricing your home is the most crucial factor in making a sale.
Although you set the asking price, buyers ultimately determine the value. They’ll compare your home and your asking price to similar homes on the market. If your price doesn’t stack up, they may discard it and move on to the next listing, it can happen that fast!
The longer your property sits on the market, the less marketable it becomes because buyers start to speculate if something is wrong with it. Pricing your home too high may increase the time your home sits on the market. And inevitably studies show, the longer it sits, the lower the sold price.
The “right” price is a balance between three things:
- The maximum amount the current housing market will allow
- Your “competition”
- Your own time limits in selling
How do you determine the right price?
Start by simply asking an experienced real estate professional to prepare a written Comparative Market Analysis (CMA) for your home. In order to help out a fellow neighbor, Mike and Jenna are more than willing to sit down and present a CMA to you for free anytime, simply call or email email@example.com or firstname.lastname@example.org to set up a no-obligation consultation.
This report provides details on recent sales of homes similar to yours, as well as the asking price of homes currently on the market. You can then balance that information with other factors such as location, special features, condition of your home, age of the home, and your time frame to assist determining a fair and competitive asking price. This is a great start when wondering how to price your home for sale in Coeur d’ Alene.