Want To Sell Your Home Fast? Your Asking Price Matters More Now Than Ever!

Posted by Jay Singh on Wednesday, August 17, 2022 at 11:21 AM By Jay Singh / August 17, 2022 Comment

It's no secret that the housing market is slowing down. In today's blog post, we'll discuss why this shift in the market means you need to price your house differently than you have in the past fe years. Keep reading for tips on how to price your home in today's market!

Why Today’s Housing Market Is Different

The recent shit has caused many changes in the housing market, and one of the most significant is the increase in available homes. This shift means that sellers can't rely on high demand to justify a high asking price - they need to be more strategic.

One way to be strategic about pricing is to look at recent sales data in your area. This will give you an idea of what buyers are actually willing to pay for a home like yours. You can also use this data to help you choose a competitive listing price that will attract buyers while still allowing you to make a profit.

It's also important to remember that today's buyers are savvier than ever before. They have access to more information and resources, so they know what a fair price for a home is. If you try to overprice your home, buyers will likely move on to another property.

Here are some tips for sellers:

Pricing Your House at Market Value Matters:

Pricing your house at market value matters because:

-In today’s market, there is less buyer demand than there are houses for sale

-If you price your home too high, you run the risk of deterring buyers

-When that happens, you may have to lower the price to try to reignite interest in your house

-A price drop can be seen as a red flag for some buyers who will wonder what that means about the home or if in fact it’s still overpriced

-You could also end up selling your home for less than it’s worth if you’re not careful

-The most important thing is to be realistic about the market conditions and your home’s value. Work with a real estate agent who can help you price your home correctly from the start so you don’t end up making costly mistakes.

Not to mention, pricing your house fairly based on market conditions increases the chance you’ll have more buyers who are interested in purchasing it. This helps lead to stronger offers and a greater likelihood it’ll sell quickly.

Why You Still Have an Opportunity When You Sell Today

It’s still a seller’s market, so you don’t need to worry about pricing too low either. As long as you price your home at or near market value, you should have no trouble finding a buyer who is willing to pay a fair price.

As Lawrence Yun, Chief Economist at the National Association of Realtors (NAR), says:“Homes priced right are selling very quickly, but homes priced too high are deterring prospective buyers.”

Mike Simonsen, the Founder and CEO of Altos Research, also notes:“We can see that demand is still there for the homes that are priced properly.”

If you’re not sure what the current market value of your home is, the best thing to do is consult with a real estate agent. They will have a good idea of what comparable homes in the area are selling for and can help you price your home accordingly.

Let’s connect to make sure you price your house based on current market conditions so you can maximize your sales potential and minimize your hassle in a shifting market.