Selling Your Home? How to Make Sure it’s at the Right Price Point

We have talked and talked about how it is a seller’s market and how with the low inventory rate and high buyer demand, homes today are selling above the asking price at a record rate.

According to NAR:

• Homes typically sell within 17 days
• The average home sold has five offers to pick from.
• 54% of offers are over the asking price.

Home prices are being driven up because of so many buyers competing for the same homes, but it is important even with the hot seller’s market that it is to make sure that your home is priced right.

Why does it matter you ask? Because a high price tag doesn’t necessarily mean that you’re going to make big money off the sale of your home. A high price even in this market is more likely to deter buyers which in turn will have it sit on the market longer and could potentially result in a price drop.

Instead, it is important to have a trusted real estate professional on your side who can help you set a price that is fair, basing their decision on the current condition of the home and similar homes that have sold in your area. Also, when your home is priced right, you’re more likely to increase your homes visibility, which in turn will increase the likelihood that you’ll have a multi offer situation!