Under normal circumstances its reasonably straightforward. If possible, find enough comparables and price just above the average, median or most amount paid in that community or neighborhood.
This year it’s not so easy. The spring 2022 market exceeded all reasonable expectations in terms of sales volume and pricing. And spring 2021 was also a little different too. That was the first year we saw a flight toward single family housing due to Covid-19 concerns.
So how should you price this year? Take a hard look at your current competition. Ask your REALTOR® to take to see the homes that you will be competing against.
Decide where on the shopping list of homes for your area you would like to appear. Do you want to be on the top of the list or the bottom?
In general, the lower your asking price the higher up the list you appear.
Most home buyers shop down the list. So, if you are high on the list your home will be shown more often and is more likely to sell first.
The folks that price higher ‘because they can always come down’ often end up languishing at the bottom of the inventory list. Often, they may not get any showings at all.
About the author:
You can read more about the author of this blog by clicking this link - Stuart Neal, Broker, REALTOR® & Team Lead.
Our FIXED FEE home selling program gives clients proven results & affordability. To learn more call our Broker Owner & Team Lead Stuart Neal at: 780-760-2014 or visit our program page www.FixedFeeRealty.ca.
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