Key Takeaways:
- Today’s intense sellers’ market may tempt you to price your home higher; however, doing so could hinder your home-selling potential.
- Working with a real estate professional to accurately value your home is the best way to generate bidding wars and gain bigger returns on your investment.
- There’s no better team of Realtors to list with than Linda Craft & Team—contact us today at 919-235-0007 to sell your home for top dollar!
Don’t Decrease Your Home-Selling Potential with This Pricing Mistake
The Triangle’s low inventory of homes and high buyer demand is making for the ultimate sellers’ market, which means homes today are typically selling above the asking price. According to the most recent Realtors Confidence Index Survey from the National Association of Realtor (NAR), the average home sold has five offers to choose from, with more than half (54%) of these offers over the asking price. And if you’re wondering about the Triangle housing market specifically, Raleigh homes are selling in an average of just four days, according to Zillow.
Bidding wars have become the norm in the Triangle’s hyper-competitive market, which has caused home prices to rise. And according to expert forecasts for the second half of this year, existing home prices are expected to continue to increase by 8.9%. Although it may be tempting to price your home higher in today’s smoldering hot sellers’ market, doing so could hinder your property’s selling potential.
A high listing price doesn’t ensure a high selling price
Just because you list your home at a higher price doesn’t mean you’re going to get more bang for your buck. A high list price could actually deter buyers and could cause your home to sit on the market longer until you drop its price. Ultimately, you should always set a price that’s accurate and fair. As shown in the graph above, listing your home at market value will increase its chances of generating a bidding war and will most likely sell quicker at a higher sales price.
A real estate agent can realistically price your property
By evaluating your home’s current condition and checking out similar ones that have recently sold in your area, real estate agents can accurately price your property. Prospective buyers want a price that is realistic, and most importantly, one that aligns with their home-buying budgets. Therefore, if you overprice your home, you could be preventing some buyers from even walking in the front door.
Ready to Sell Your Home? Let Us List It!
When you list with Linda Craft & Team, our top priority is to increase your home’s visibility. More exposure for your property will likely lead to a multi-offer scenario, which could have you walking away with bigger profits than expected! We’ll use our free home evaluation tool to accurately price your home and have it sold for top dollar in no time—all you have to do is give us a call today!