Pricing your home for sale isn’t always easy. You want to get as much as possible, but you want several buyers to consider purchasing it at the same time. Unfortunately, there’s no one-size-fits-all formula for determining how to price your home. While you can rely on your Realtor® for an accurate, up-to-date comparative market analysis, you still have to attempt to figure out where the market is going and what other people will think your home is worth.
The Factors that Help Determine What Your Home is Worth
Think about your home’s location within the Main Line area. A home in Bryn Mawr, for example, may sell for more than an identical home in Haverford, depending on the neighborhood and its proximity to local amenities.
While upgrades and additions can add to your home’s value, they may not add as much as you think. In fact, you may not even recoup your costs of a remodel.
Sale prices depend on what’s going on in your community, as well. If the residents are all moving away for greener pastures, you’re not going to have much of an advantage in the marketplace (and you’ll have a lot of competition from everyone who’s leaving). However, if new shops are moving in, new businesses are developing their headquarters, and people are clamoring to get in, you can likely get a higher price for your home.
The speed at which you need to conduct your transaction matters, too. If you’re in a real bind and you need to sell quickly, you might be willing to part with your home at a lower price than you would if you had time to decline offers.
Let Us Help You Figure out How to Set Your List Price
Call us at (610) 608-3119 or fill out our online contact form for your free comparative market analysis. We’ll let you know what’s happening in your community by showing you recently sold listings and teaching you how to read housing market stats.
Links:
How to Price Your Home
How to Read Housing Market Stats