While the market has cooled off a bit, homes that are priced correctly are still selling. They are selling quickly, and with multiple offers. This is because of supply and demand. The number of homes hitting the market is still low.
The National Association of Realtors reported 76% of homes sold within a month and on average they received 3.5 offers in the month of June.
Setting the proper price for your home sends a message to potential buyers.
If you price your home too high, you will deter buyers from looking at your home. Days on market is the worst thing for home sales. You will need to reposition quickly and adjust your price accordingly. Working with an experienced agent is key to understanding how to properly price a home.
Price your home too low and you are leaving money on the table.
Pricing your home correctly is something best left to a professional. They typically take into consideration recently sold homes within 1 year and 1 mile away from your home. The current market conditions. The size and condition of your home and lastly the location.
Pricing your home is critical to pulling out as much equity as you can. Use an agent that has been in the business at least 5-10 years. Ask them how many homes they have sold. Do your homework before making this decision.
-Joseph Singsheim 414-659-6965 jsingsheim@kw.com