Overpriced Houses Don’t Sell
A lot of people ask us, “What’s the best pricing strategy? Should I price my home a little high so we can leave room to negotiate?” That strategy may work in certain markets, but not in this one.
One of the most important factors in successfully selling your home in this market is setting the right price. At Savvy, we determine the smartest number by comparing your square footage and home additions/improvements to similar properties that have recently sold.
If you overprice a home in this market, the listing will simply sit there, because people will see better value elsewhere. Buyers may then consider the number of days your home has been on the market as a red flag, and will sense that there’s something wrong with your home, even if you reduce the price.
On the other hand, it is virtually impossible to underprice a home in our market. The market will determine it is an amazing deal, and typically responds with multiple offers, sometimes even with bidding wars.
If you have questions about pricing strategies or anything else related to real estate, give us a call or send us an email. We look forward to hearing from you soon!
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