Is Your Home Overpriced?

Posted

Pricing your home correctly in the beginning is crucial. Working with an experienced Real Estate agent is imperative. Has your home been on the market for a long time? Are you starting to wonder if it may be overpriced? Here are 5 signs your home may be overpriced.

1)Low number of showings. If your home has been on the market for a month and you’ve only had a handful of showings, you may need to adjust the price.

2)Internet traffic is low. If you’ve received little traffic or inquiries, you may need to make an adjustment. The majority of home-buyers start their search on the Internet. You should have a decent amount of internet traffic if your home is priced correctly.

3)No offers. Luxury properties, or homes with unique features may take a longer time to receive an offer. If your home is appealing to a wide variety of buyers and located within a healthy Real Estate market, you can expect to receive an offer fairly quickly. If a month or two goes by and you haven’t received an offer, it may be time to evaluate the price.

4)Neighbor’s homes are selling and yours isn’t. Many things can influence the selling of a home. Unless there are major differences in the style, size or upgrades, you can expect to sell within a similar time frame….unless yours is priced too high.

5)Your listing expired. If your home did not sell after 6 months, it is most likely not because there are not interested buyers in the area. In general, if a home is listed close to the price tag a buyer thinks is fair, it will sell before expiring.

Getting the listing price right in the beginning is crucial to selling in a relatively quickly time frame. Here at Dash Realty, our experienced Real Estate agents can help you get the price right the first time! We look forward to working with you.