5 CRITERIA FOR PRICING A HOME
When you put your home up for sale, one of the best ways to determine the asking price is to look at comparable sales. There’s rarely a perfect apples-to-apples comparison, so a pricing decision often relies on comparisons to several recent sales in the area. Here are five criteria to look for in a sales comparison.
Location: Homes in the same neighborhood typically follow the same market trends. Comparing your home to another in the same neighborhood is a good start, but comparing it to homes on the same street or block is even better.
Date of sale: It varies by location, but housing markets can see a ton of fluctuation in a short time period. It‘s best to use the most recent sales data available.
Home build: Look for homes with similar architectural styles, numbers of bathrooms and bedrooms, square footage, and other basics.
Features and upgrades: Remodeled bathrooms and kitchens can raise a home’s price, and so can less flashy upgrades like a new roof or HVAC system. Be sure to look for similar upgrades or if a home warranty is included.
Sale types: Short sales or foreclosures are often homes that are in distress or sold at a lower price than they’d receive from a more traditional sale. These homes are not as useful for comparisons.
There is never a doubt that the resources, knowledge and experience a Realtor® brings to the conversation is the best way to decide on a listing price for your home. If you are thinking of selling either this year next year, let’s start the conversation today so you can be informed and make the best decision for when and how much you should list your home for.
Peggy Fitzgerald Realtor®
The Fitzgerald Real Estate Team
Keller Williams Newtown