5 Criteria For Pricing A Home

When you put your home up for sale, one of the best ways for a professional realtor to determine the asking price is to create a comparitive market analysis showing local community sales of similar homes. There’s rarely a perfect apples-to-apples comparison, so a pricing decision often relies on comparisons to several recent sales in the area. Here are five criteria your real estate professional will look for in a sales comparison.

  1. Location: Homes in the same neighborhood typically follow the same market trends. Comparing your home to another in the same neighborhood is a good start, but comparing it to homes on the same street or block is even better.

  2. Date of sale: It varies by location, but housing markets can see a ton of fluctuation in a short time period. It‘s best to use the most recent sales data available.

  3. Home build: Look for homes with similar architectural styles, numbers of bathrooms and bedrooms, square footage, and other basics.

  4. Features and upgrades: Remodeled bathrooms and kitchens can raise a home’s price, and so can less flashy upgrades like a new roof or HVAC system. Be sure to look for similar bells and whistles.

  5. Sale types: Homes that are sold as short sales or foreclosures are often in distress or sold at a lower price than they’d receive from a more typical sale. These homes are not as useful for comparisons.

If you would be interested in a complimentary comparitive market analysis, fill the form below and we look forward to helping you.

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.
63 Properties
Page 1 of 6

Phone(250) 740-0978

Email[email protected]

Address eXp Realty
#2-3179 Barons Rd
Nanaimo, BC V9T 5W5

Post a Comment