Pricing to Sell in our Shifting Market
Hey, it's Candace Decker, and I have been talking to so many sellers in the last couple of weeks about the market conditions and what you need to do in order to price your home to sell.
So, what we're seeing is a shift in the market. So, the inventory has doubled of what it was last year. And so, what we are focusing on is looking at comparable sales that are very recent versus what happened last year. Because last year's market is completely different than what we're seeing right now.
So last year, we were having different conversations. We were in a sellers market. Buyers were extremely motivated. We had a buyer frenzy on many properties, so we were able to push the price a little bit beyond what maybe a home's current market value was.
But now, in a more balanced neutral market, what we're seeing is more inventory on the market, maybe the same amount of buyers, but with more inventory we're not seeing that frenzy that we were seeing.
And so, as a motivated seller, it's important to look at what are the most recent sales that have happened, and base your list price upon that and what the current competition is among other listings in the area.
So, it's important not to actually list at the highest price that a realtor may come in with, but what is strategic and what your home is actually worth right now because any agent can come in and give you a crazy number. It's important to look at what are the comparable sales showing in the last three months, what are the other listings on the market, what are the days on market, and how much competition do you have, how many homes have sold versus how many are on the market. Those are all important things to look at and what you should consider before selling.
If you have any questions about what your home is worth, feel free to reach out to me. I'd love to provide you with that information. Thanks.