In the past year, there have been significant changes in the housing market. Although it remains a sellers' market, homes that are priced appropriately are receiving the most attention from buyers. If you plan on selling your home this spring, it's crucial to rely on the guidance of a knowledgeable real estate advisor when determining the listing price. According to Realtor.com, move-in-ready homes with attractive exteriors in desirable locations and priced competitively are highly likely to sell quickly this spring. We are still seeing competitive offers, multiple offers, and over ask offers, BUT you have to be priced at market value or below. Times have changed from the way things have been over the last couple of years. It's time for sellers to come back down to Earth.
Setting the correct price for your home in today's market can make a significant difference not only in your final earnings but also in how quickly your property sells. Your asking price sends a message to potential buyers, and it is especially crucial in today's market. If the price is set too low, you may lose out on money or deter buyers who believe there may be an issue with the property. Conversely, if the price is set too high, you may discourage potential buyers, which could result in the property remaining on the market for an extended period. .
To avoid either scenario, it's best to establish the right price from the outset. A real estate professional can assist in determining the ideal asking price by considering several factors, including the value of other properties in your area, current market trends, buyer demand, and the condition of your home. By doing so, you can increase the chances of receiving stronger offers and selling your home quickly.
The visual below helps summarize the impact your asking price can have:
Recap:
At present, homes that are priced according to the current market value are selling faster, at a better price, and with fewer complications. To ensure that you set the right price for your house, increase your sales potential, and decrease your hassle, it's best to seek the assistance of a reputable real estate expert.
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