If you’re selling a home in Clayton, NC you’ve likely got a lot on your mind and a lot of questions awaiting an answer. And the big, prominent question looming above them all… how do you price my home to sell fast—while still making money?
Here’s what you need to know to price your Clayton home to sell.
Price Your Clayton Home to Sell
Perfect pricing is a balance game. You definitely want to avoid overpricing your home, as it will be unappealing to buyers and will sit on the market until it drops to the bottom of searches and is eventually forgotten. But pricing too low can be problematic, too, as it can cost you money, or even cause buyers to wonder what’s wrong with your home.
Ultimately, it all comes down to supply and demand.
How to Price a Home to Sell
1. Compare Recent Sales
The value of your home isn’t just determined by your home. It’s determined by what else is on the market. Comparing the listing and sales prices of similar homes in your neighborhood or area can give you a good idea of what buyers are actually paying for homes like yours. When comparing be sure to consider:
- The size (square footage) of the homes
- The age of the homes
- The features of the homes
- The location of the homes
Disregard homes that are more than 10% different in size, that aren’t a similar age to your home, that lack or have certain desirable features, or that are located near dissimilar landmarks, such as busy streets, freeways, or railroads.
2. Compare Active Listings
Next, check out the competition by looking at active listings. These are homes in your area that haven’t yet sold. You’ll want to consider the same features, amenities, and qualities as with sold listings. You can even go to open houses and tour these homes to see them from a buyer’s perspective.
3. Think Like a Buyer
Try and view your home from an unbiased outside perspective. What features would appeal to current buyers? What features might deter buyers? Researching current home-buying trends can give you important insight into some of the features that add value to homes. Ultimately, your price should reflect how well your home can meet buyer wants and needs.
4. Consider the Market
Pricing is dependent on the house, but really, it comes down to the market. If there are more sellers than buyers looking (buyer’s market), you may need to drop your price. If there are more buyers than sellers (seller’s market), you can raise your home price a bit. If the market is pretty balanced, your pricing will likely be about even with the last comparable sale.
5. Ask an Expert Clayton Agent
If that all sounds like a lot of work—with a lot of room for error and misjudgement—then you’re right. It’s a lot of comparison, opinion, and understanding, on top of trying to judge your home in an unbiased way.
The easiest, and most reliable way, to price your home is to ask an expert local agent. Emphasis on the “expert”, because no two agents price a home the same. Experience matters. Knowledge of the market in your area and neighborhood matters. So, when considering agents, be sure to choose carefully!
Selling a Home in Clayton, NC?
Then it’s time to contact The Tina Barletta Team! If you want pricing done right, we’re here to help! Ask us for your complimentary neighborhood sold report or your home’s price valuation. We’d also love to help you learn more about selling a home in Clayton so you can successfully list your home.