Pricing your Montgomery County home to sell is one of those exercises where you might not realize how difficult it is until you have to do it. Considering what a large role your Montgomery County home’s asking price plays in the sales process, you want to make sure you price correctly.
Pricing your Montgomery County home too high means running the risk of sitting on the market. Pricing your Montgomery County home too low means possibly leaving money on the table.
Below is our guide to help you when pricing your Montgomery County home to sell.
Plenty of Montgomery County homes get listed too high because homeowners factor in every single improvement they have made over the years. The reality is: not all improvements are created equal.
The sooner you realize that not all buyers will want to pay extra for features they weren’t looking for in the first place, the sooner you can settle on an accurate price.
When pricing your Montgomery County home, you will want to review recent Montgomery County home sales. When doing so, be sure to also look at the history of those sales.
You will want to find the original list date and sale date. How long did it sit on the Montgomery County home market?
Also, look at the difference between the list and sale prices. Did homes that were priced a little lower sell significantly faster?
Understanding how other homes have fared can give you an indication of what you can expect.
Not all of the homes you reviewed in the step above will be relevant to your home sale. When reviewing the stats, be sure that you are comparing your home to other Montgomery County that are as similar to yours as possible.
Keep in mind that while the features don’t necessarily need to be identical, you should try to compare to those with similar property size, square footage, school district, and number of beds and baths.
Although appraisers generally cost some money to work with, they are also impartial. An appraiser can give you a clear-eyed opinion of what your home is and is not worth.
When looking to hire an appraiser, make sure you work with one who has a solid understanding of your local Montgomery County market.
Selling your Montgomery County home is different than selling your car. When your car has a “for sale” sign on it, negotiations are typically expected. This is not necessarily the case with pricing your Montgomery County home.
If your home is priced too high, some buyers won’t even bother to give it a second glance. If that happens, you will quickly lose any ‘buzz’ that comes along with being a new listing.
Even if you reduce your price, it could be too late. Your listing has become stale.