If you’ve ever watched “The Price is Right,” you know that the only way to win is to be the one to correctly guess the price of the item you want without going over! That means your guess must be just slightly under the retail price.
In today’s shifting real estate market, where more inventory is coming to market and home values are projected to appreciate at lower rates, homeowners will not be able to price their homes as aggressively as they were able to just last year.
They will have to employ the same strategy: be the closest without going over!
As we have explained before, pricing your home at or slightly below market value actually increases the number of buyers who will see your home in their search!
Over the last six months, more inventory has come to market while the months’ supply of inventory available has dropped. This means that the demand for homes to buy is still very strong in the area.
Homeowners who make the mistake of overpricing their homes will eventually have to drop the price. This leaves buyers wondering if the price drop was caused by something wrong with the homes when in reality nothing was wrong, the price was just too high!
One of the most important aspects of getting the top value for your home is the list price of the home. If you are thinking about listing your home for sale this year, make sure you have a real estate professional that knows your area and can determine an accurate value for you home. An agent who specializes in selling homes in your area, will know all the different developments, the school areas, floor plans, and how they can vary and what that translates into in regards to your home’s value.