Q Realty says: This article helps explain how important it is to hire a real estate professional to provide you with a current market analysis. This helps provide a strong pricing strategy to get you the top dollar for your home without deterring buyers and making your home lose value. By remaining on the market longer than it should your home could become “stale” and miss out on receiving offers if overpriced.
The residential housing market has been hot. Home sales have bounced back solidly and are now at their fourth highest pace over the past year. Demand has remained strong throughout spring as many real estate professionals are reporting bidding wars with many homes selling above listing price. What about your house?
If your house hasn’t sold, it could be the price.
If your home is on the market and you are not receiving any offers, look at your price. Pricing your home just 10% above market value dramatically cuts the number of prospective buyers that will even see your house. See chart below.
The housing market is hot. If you are not seeing the results you want, sit down with your agent and revisit the pricing conversation.