Pricing Your Home
Pricing Your Home
A Blend of Science and Strategy
Unlocking the best possible price for your home requires more than just guesswork. It’s a combination of market knowledge, timing, and strategic planning.
What You Can Control: Price and Condition
While location, price, and condition all influence your sale, only two factors are in your control:
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Price: The most critical factor. A well-priced home can overcome minor imperfections.
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Condition: Enhancing your home’s appeal increases perceived value but won’t compensate for overpricing.
Remember: Price corrects condition, but condition cannot correct price.
Factors
The Key Factors That Affect Pricing
Time of Year
Timing plays a critical role in selling your home at top dollar.
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Spring: The busiest and most competitive season. Warmer weather, school breaks, and family relocations drive the highest demand.
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Fall: A secondary peak season as vacations end and routines resume. Buyers are serious and ready to move.
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Summer: Attracts buyers without school schedules—typically singles and families without children.
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Winter: While traditionally slower, motivated buyers and sellers create unique opportunities during the holidays and early months of the year.
Supply and Demand
The real estate market operates on the principle of supply and demand.
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Low Inventory + High Demand = Multiple offers and higher sales prices.
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High Inventory + Low Demand = A buyer’s market, where pricing must be competitive to stand out.
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Even in tight markets, pricing within your specific neighborhood can vary. Desirable areas with limited listings often see rapid price appreciation, while neighborhoods with high competition require more careful positioning.
Tip: Interest rates influence buyer activity. Lower rates encourage buyers to act quickly, while rising rates may slow demand.
How I Determine the Right Price
At your in-home consultation, I provide a Comparative Market Analysis (CMA)—a detailed report of similar properties in your area. This ensures your home is priced competitively and accurately.
What the CMA Includes:
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Active Listings: Your competition—homes currently on the market with similar features.
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Sold Listings: Recently sold properties that reflect actual market value (typically from the last 3 months).
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Pending Sales: Homes under contract but not yet closed.
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Off-Market/Expired Listings: Properties that failed to sell, offering insight into pricing pitfalls to avoid.
We’ll review the CMA together to set a pricing strategy that reflects market realities and maximizes your home’s value.
