Homes Are Selling Quickly, Often At Or Above The Asking Price, But...


Homes Are Selling Quickly, Often At Or Above The Asking Price, But...
By Scott Rogers • April 6, 2023
Homes are selling quickly... often at or above the asking price... but... ...that doesn't mean you can put any price on your home and successfully sell quickly and at or above the list price. -- Let's say you own a townhouse and you are getting ready to sell it. Three other townhouses on your street sold for $250K in the past two months. If you list your home for $250K or $255K (or possibly even $259K) you'll likely find early success in securing a buyer for your home at or above the list price. If you list your home for $275K you are much less likely to quickly secure a contract with a buyer at or above your list price. If you list your home for $299K you are very (very) unlikely to quickly secure a contract with a buyer at or above your list price. -- If you own a home that you think might be worth $450K and we discover that other recent buyers have paid $460K and $470K for similar homes... great! A list price of $459K or $465K or $470K will likely result in an early, strong offer. A list price of $489K is much less likely to result in an early, strong offer. A list price of $510K probably won't get you very far at all. -- So, yes, many or even most buyers are paying very close to the list price -- the list price -- or above the list price -- BUT that's because most home sellers price their homes appropriately for the market. Receive Updates by Email Recent Articles: There Are Plenty Of Types Of Houses That Exist That Just Are Not Available To Purchase Home Sales By Price Range In The City Of Harrisonburg Are You Compromising On Aspects Of Your Next Home That You Can Or Cannot Change Later? How Much Slower Are The Winter Months In Our Local Housing Market? Rockingham County and New Home Sales Drive Surge in Area Housing Market Find The Balance Between Optimistic And Realistic Home Pricing Room Size Is Difficult To Understand Solely From Real Estate Photos How Much Would You Value Not Having To Prepare Your Home For Showings? One Out Of Four Homes Is Taking Longer Than A Month To Sell Consider The Cost Of Your Planned Renovations When Planning Your Offer
Have any questions? Contact Scott Rogers at 540-578-0102 or scott@funkhousergroup.com
Based on information from the Harrisonburg-Rockingham Association of REALTORS® or its MLS, for the period Jan 1, 2000 through Nov 21, 2024 (unless otherwise noted).
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