Determining the Right Asking Price

Figuring out how much to list your home for brings about two main questions. What is the real value of your home? And what are buyers willing to pay for it? The first question is the most important because it sets the bar for how much your home is worth in the current market (which you’re trying to sell in). The second question is valuable because depending on how quickly you wish to sell your home and how in demand the features of your property are, you may decide to list it for exactly market value or even a little more or less.

So, how does your real estate agent determine the value of your home? It’s really quite complicated, but a few of the key details they evaluate are:

  • How many homes are available and how many buyers are in the market?
  • Is the market falling or rising?
  • What are the average days on the market for homes in your area?
  • How does your home’s location, features, and property size compare to homes currently listed?
  • Are you in a hurry to sell or willing to wait for the best price?

Keep in mind—a seller can ask whatever price they want—even over market value. But that doesn’t mean buyers will pay that price. So don’t be fooled, just because you may see a comparable home listed at a higher price, that doesn’t mean it’s priced according to actual market value. Your REALTOR® is a professional who can help you understand and interpret the market and determine the right listing price for your unique home.

If you’re interested in a free, no obligation market analysis of your home, contact us and we’ll connect you with one of our knowledgeable local real estate agents.

 

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