Selling Your House? Your Asking Price Matters More Now Than Ever
During the pandemic, sellers could price their home higher because demand was so high, and supply was so low. This year, things are shifting, and that means your approach to pricing your house needs to shift too. Because we’re seeing less buyer demand, sellers have to recognize this is a different market than it was during the pandemic. Here’s what’s at stake if you don’t.
The price you set for your house sends a message to potential buyers. If you price it too high, you run the risk of deterring buyers. When that happens, you may have to lower the price to try to reignite interest in your house when it sits on the market for a while. But be aware that a price drop can be seen as a red flag for some buyers who will wonder what that means about the home or if in fact it’s still overpriced.
Rest assured, it’s still a sellers’ market, and you’ll still get great benefits if you plan accordingly and work with an agent to set your price at current market value. As Lawrence Yun, Chief Economist at NAR, says, “Homes priced right are selling very quickly, but homes priced too high are deterring prospective buyers.”
DM me to make sure you price your house based on current market conditions so you can maximize your sales potential and minimize your hassle in a shifting market.
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