Determining the right listing price for your home when putting it on the market is one of the most important decisions you’ll make during the home selling process. Set your price too high, and you risk turning away prospective buyers and having your home sit unsold for months. Price it too low, and you leave money on the table by not maximizing your home’s value. So what’s the sweet spot? Here are a few key takeaways:
- Research recent comparable home sales in your neighborhood to gauge market value
- Factor in any updates or renovations made to your home that impact its value
- Consider working with a real estate agent to help price your home competitively
- Set your listing price on the lower end of your home’s value range to generate interest
Comparing Other Nearby Homes
When setting your listing price, the first thing any real estate agent will tell you to do is review prices of recently sold homes in your area that are similar to yours in size, condition, location, and features. This comparable home pricing analysis gives you insight into what buyers have been willing to pay for homes like yours, providing a baseline for where to set your price.
As you’re conducting comparable home price research, be sure to note any major updates or renovations you’ve made to your kitchen, bathrooms, flooring, etc. Upgraded amenities like these can boost your home’s value compared to others nearby that may be more dated. Factor these capital improvements into your pricing evaluation appropriately.
Hire A Real Estate Professional
Many sellers also solicit the help of a trusted real estate agent to help price their home accurately for their local housing market. Real estate agents have their fingers on the pulse of buyer demand and housing market conditions in your city and neighborhood. Leverage their expertise in setting a listing price that maximizes selling potential for your unique property.
Oftentimes real estate agents will suggest pricing your home on the lower end of its total value range, allowing some room for buyers to negotiate upward later in the selling process. This creates more foot traffic and interest in your listing out of the gate, which is key to securing a quick, profitable sale in a housing market where inventory is low and buyers have options.
What Realtor in North Central Florida Can Help?
If you’re searching for the best realtor in Ocala and the surrounding area, look no further than Scott Coldwell and Your Home Sold Guaranteed Realty - Coldwell Real Estate Services. With 20 years of experience in the industry, we have what it takes to sell your home fast and get you top dollar at the same time.
Our track record of success is proven through our data– on average, we sell homes 48% faster and for 2.4% more money than our competitors. Plus, with our seller guarantees such as our Guaranteed Sale Program, you can ensure a risk-free home-selling experience.
What Price Should I List Your Home For? A Balance Between Speed and Profit
Setting the listing price for selling your home needs to strike the right balance between securing top dollar for your investment and attracting ready, willing buyers who can close the deal promptly. Follow the latest market trends around home values in your area, enlist a real estate agent as a pricing counselor, and set your sights high but realistic.