When the real estate market favors the seller – often called a “seller’s market” – there’s a temptation to let things slide. From staging to pricing to repairs, you may think you can slack a bit when there are more buyers than there are homes for sale.
Don’t fall for it! Preparing your Southern Maryland home for sale is just as important in a seller’s market as it is in a buyer’s market, and that includes how you price your home. Not sure where to start? That’s where a good agent (like me!) can come in.
Southern Living offers some great advice for figuring out how to price your home in a seller’s market. First step? Is it really a seller’s market? You can do some research on your own to figure this out, and you can definitely talk to me. We will discuss how long homes are on the market before they sell, how their selling price compares to their asking price, and whether prices are headed up or down.
Once we’ve determined that we are in a seller’s market, we have three directions we can take:
Price low, hoping to start a bidding war that will drive the selling price up. Southern Living points out a couple of risks here: Buyers may see your low price as a red flag and wonder whether there is something wrong with your home. And, what if your home appraises for less than the selling price?
Price high, and be prepared to accept a selling price to closer to market value. Are there risks? Yes. Your home could appear overpriced to buyers and it will sit on the market longer.
Price at market value, which will be recognized by knowledgeable buyers. They will know your home is well priced, and they won’t low-ball you trying to get a steal.
Ready to learn more about the Southern Maryland real estate market? Not sure how to price your Southern Maryland home for sale? Give me a call today for a consultation.
Accokeek MD Homes for Sale and Real Estate Services in Southern Maryland. You now have a search engine to help you with your Southern Maryland home search! And I’m ready to provide you with a custom home valuation if you’re considering selling your home. Let’s connect to discuss how I can help you. Contact Kimberly Bean at 301-440-1309