Why Pricing Your Home Correctly Is Crucial When Selling In A Shifting Market

In today’s housing market, setting the right price for your home from the beginning is not just a smart move — it's absolutely essential. If your goal is to sell quickly and for top dollar, your home must be priced competitively right from the moment it hits the market.

There’s nothing wrong with listing your home on the higher side of market value, however, overpricing your home so that there is "room to negotiate" or just to "see what happens" can backfire badly. In fact, it may ultimately end up costing you more than if you had priced your home correctly from the start.

Why?

▪️ The more you overprice your home, the fewer buyers will come to see it. Today's buyers are educated and know if a home is overpriced.

▪️ Very few buyers in today’s market will even make an offer on an overpriced home — they will wait for the price to drop, sometimes before they even schedule a showing.

▪️ Your property attracts the most interest (and the most serious buyers) when first listed — the most showings on a home occur within the first 30 days of the listing hitting the market.

▪️ After your house has been on the market for several weeks or even months, buyers will notice the number of days on market and may assume that something is wrong with your home.

Now, here's the thing… pricing a home isn't an exact science, especially given the current landscape of constantly fluctuating and rising interest rates. There are a lot of variables to consider, and it can be tricky to get it just right. This is precisely why teaming up with an experienced agent like myself, who closely monitors the local market daily, is essential.