Setting The Right Price When Selling Your Home

The real estate market is highly dynamic, and the final sale price of a property is determined by several factors. While the mortgage owed and the cost of purchasing another property are important considerations, they do not solely determine the listing price or the eventual sale price. An experienced real estate agent with local knowledge can provide valuable insights into the current market and research several factors to determine the pricing strategy.

To establish a suitable listing price, it is advisable to consult with one of Sternbecks experienced and local agents who possesses extensive knowledge of the area and understands the current market conditions. We will conduct thorough research and take into account several factors that influence the pricing of your home.

Research the comparable properties in your area

One crucial aspect Sternbecks undertakes is assessing comparable listings in your vicinity. Researching the current or recently sold properties in your area that share similarities with your own can provide valuable insights. You should consider the listed price and final sale price of these comparable properties to determine a price range for your property.

When selecting comparable properties, factors we include are size, number of bedrooms, bathrooms, living spaces, parking facilities, additions, and inclusions.  Additionally, we consider the age of the property, as well as any potential improvements or renovations that have been made, as they can impact the price estimate.

Research about withdrawn listings

Examining withdrawn listings can also offer valuable information. These withdrawn sales provide an indication of properties that did not sell and can reveal whether they were priced incorrectly or faced other challenges. By analyzing such cases, you can expand the range of pricing considerations for your property.

Calculate and compare

Once we have gathered all the relevant data on comparable sales in your area, we consolidate the information to calculate the average listing and final sale prices. By comparing these figures, you can approximate the value of your home. However, for a more accurate estimation, we recommend a consultation with one of Sternbecks experienced agents for a sales appraisal or consider investing in a professional property valuation.

In summary, pricing your home requires a comprehensive understanding of the local market dynamics. While factors like your mortgage and personal needs are important, consulting with one of Sternbecks knowledgeable agents, who can conduct research on comparable listings and withdrawn sales for you, will provide valuable insights in determining a suitable listing price.

If you want to make sure you’re getting the best outcome for your property, get in touch with the Sternbecks team now and let us help you navigate the market to get the best price for you.