Last year, the housing market slowed down in response to higher mortgage rates, which impacted home prices. If you’re considering selling your house soon, you’ll want to adjust your expectations accordingly. As realtor.com explains:
“. . . some of the more prominent pandemic trends have changed, so sellers might wish to adjust accordingly to get the best deal possible.”
In a more moderate market, how you price your house will make a big difference not only to your bottom line but to how quickly your house could sell. And the reality is homes priced right are still selling in today’s market.
Why Pricing Your House Appropriately Matters
Especially today, your asking price sends a message to potential buyers.
If it’s too low, you may leave money on the table or discourage buyers who see a lower-than-expected price tag and wonder if that means something is wrong with the home.
If it’s priced too high, you run the risk of deterring buyers. When that happens, you may have to lower the price to reignite interest in your house when it sits on the market for a while. But be aware that a price drop can be seen as a red flag by some buyers who will wonder what that means about the home.
To avoid either headache, price it right from the start. A real estate professional knows how to determine that ideal asking price. They balance the value of homes in your neighborhood, current market trends, buyer demand, the condition of your house, and more to find the right price. This helps lead to more substantial offers and a greater likelihood your home will sell quickly.
The visual below helps summarize the impact your asking price can have:
Bottom Line
Homes that are priced at current market value are still selling. Let's connect to make sure you price your house appropriately, maximize your sales potential, and minimize your hassle.
