This is a pretty simple topic.
There is no magical formula here.
1. Don’t confuse what you paid for your home vs. actual value.
2.Ask yourself …Are the number of sales increasing or decreasing?
If sales in your price range are increasing then this means your property value is going up in value and it will become more valuable over time if that momentum continues.
If sales in your price range are decreasing, that means inventory is going up and that means that the prices go down.
3. When pricing your home, compare homes SOLD not LISTED.
It doesn’t matter what other homes are listed at, they could have been on the market for months and even listed multiple times with different agents and brokerages.
What matters is what other homes have SOLD at in your neighborhood or a neighborhood like yours. That tells us what a buyer is willing to write a check out for.
4.Price your home at current Market Analysis relative to your neighborhood and property.
You will be able to tell within that 1st week if you are where you need to be price wise.
A clear indicator if you are priced accurately will be how long your home has been listed and how many showings and second showings you have had.
If we as realtors are doing our job marketing your home, serious buyers should be coming those first 4 days.