The residential housing market has been hot. Home sales have bounced back solidly and are now at their fourth highest pace over the past year. Demand has remained strong throughout spring as many real estate professionals are reporting bidding wars with many homes selling above list price. What about your house?
If your house hasn’t sold, it could be the list price.
If your home is on the market and you are not receiving any offers, look at your price. Pricing your home just 10% above market value dramatically cuts the number of prospective buyers that will even see your house. See chart below.
There are other factors that can also effect the list price and the visibility of getting your home sold. Some of the other factors include: the wording on your listing can have a negative impact whether your home is shown and the potential buyer is interested in seeing your home, curb appeal, cleanliness of the home inside and outside and smells in the home. When selling your home keep in mind all of these factors and what you would look for in a home if you were the potential buyer. As you can see list price does effect visibility, meaning, whether a potential buyer wants to see your home.
Bottom Line
The housing market is hot. If you are not seeing the results you want, sit down with your agent and revisit the pricing conversation. Your agent can make some suggestions to you.
Have questions about real estate you want answered? Even if you aren’t planning to buy or sell for years, I hope you’ll feel comfortable calling me to talk about your unique real estate situation. I’d love the opportunity to become your agent long before you actually need one. ~ Lynda Van Wie (www.vanwierealestategroup.com)
