In response to increasing mortgage rates, the housing market slowed down last year, which had an effect on property values. If you are considering selling your home soon, you should adapt 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 market that is more moderate, how you price your home will have a significant impact not only on your bottom line but also on how soon it could sell. And the reality is that properties priced appropriately continue to sell in the current market.

Why Pricing Your House Appropriately Matters

Especially today, your asking price sends a message to potential buyers.

If it's priced too low, you may leave money on the table or scare purchasers, who may perceive a lower-than-expected price tag as a sign that the home is flawed.

If the price is too high, you risk deterring buyers. When this occurs, you may need to reduce the price of your home to rekindle buyer interest if it has been on the market for a while. Be aware, however, that a price reduction may be interpreted as a red flag by certain buyers, who will ask what this indicates about the property.

To avoid either headache, price it right from the start. A real estate expert is able to calculate the optimal asking price. They weigh the worth of properties in your community, current market trends, buyer demand, the state of your home, and other factors to determine the optimal price. This contributes to stronger bids and increases the possibility that your home will sell soon.

The illustration below summarizes the impact of your asking price:

Bottom Line

Homes priced at the current value of the market are still selling. Let's connect so we can ensure you price your home accurately, optimize its sales potential, and reduce your stress.