As a seller, it's important to think about the list price when planning to put your home on the market. We often talk to clients about this topic and emphasize the importance of active and closed sales. By looking at active sales, we can get an idea of what your competition is in terms of pricing. However, it's important to be careful with aspirational pricing. You don't want to price your home too high and have it sit on the market without any bites. In the end, it's all about finding that perfect balance between what you want and what the market will bear. Using the research provided by your real estate professional, you will find the right list price for your home.

“In Contract” is Not Always The Final Price

In-contract sales can be helpful because they provide information about the price at which a deal was completed. However, it is important to remember that this does not necessarily mean that the same price will be achieved when the property actually closes. Additionally, closed sales from the past six months can be useful in order to identify patterns and trends. By looking at this data, you may be able to get a better understanding of what to expect when selling your home.

Pricing Your Home: It’s An Art and A Science

It's important to price your home correctly from the start. This is your best chance of getting the highest price possible. Days on market and number of price adjustments can tell you a lot about how well a home is priced. If a home takes a long time to sell or has many price reductions, that could be a sign that it was initially overpriced. Similarly, if a home sells quickly at or above the asking price, that's usually a good indication that the price was right on target. So, while there is an element of art to pricing a home, it's also important to use data and science to make sure you're in the ballpark. After all, you want your home to sell quickly and at the best possible price.

If your price is too high, some people might not see it because it's not in their budget. You might have to go through a series of price adjustments. People might think that you're not a serious seller from the beginning. You have the most leverage at the beginning when you're first on the market. Pricing is absolutely key at that point in time. If you want to know more about this. I'm always happy to talk about it. Thanks for your question!