Home Seller's Guide: Setting Your Home's Listing Price
Setting Your Home's Listing Price
As we discussed previously, your home's listing price is based on many factors including:
Current, local market conditions
Comparable home sales
Buyer availability for your property
Setting an appropriate listing price is often times the difference between getting your property sold, and having it linger on the market, and eventually not sell. In fact, according to the National Association of REALTORS® Profile of Home Buyers and Sellers 2014, the median purchase price of all properties sold in the United States is within 98% of the seller's asking price.
When it comes to wondering how much you can get for your home, the key factor is not what you paid or owe on it, but what another person will pay for your house in the current market. If we set a listing price that is too high, we will lack in interested buyers. If we set a listing price that is too low, we will short change your home. Below is a chart that can help you explore the financial impact of various listing prices.