There’s no doubt that the housing market is slowing from the frenzy we saw over the past two years.  But what does that mean for you if you’re thinking of selling your home?

While home prices are still appreciating in most markets, and experts say that will continue, they’re just climbing at a slower pace. 

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 of lower buyer demand, sellers must recognize this is a different market. 

Here’s what’s at stake if you don’t.

The price you set for your house sends a message to potential buyer.  If you price it too high, you aren’t really marketing it to the correct group of potential buyers and you run the risk of deterring buyers.

When that happens, you may have to lower the price to try to reignite interest when it sits on the market for a while.  A price drop is a red flag for buyers who will wonder what that means about the home, the seller’s motivation, or if in fact it’s still overpriced.  It gives the buyer an advantage and some negotiating power. 

To avoid the headache of having to lower your price, you’ll want to price it right from the onset.  I know how to determine that perfect asking price, by balancing the value of homes in the neighborhood, current market trends, buyer demand, the condition of your home and more.

Not to mention, pricing your house fairly based on market conditions increases the chance you’ll have more interested buyers, which will lead to stronger offers and a greater likelihood it’ll sell quickly.

Rest assured, it’s still a “seller’s market” and you’ll still get great benefits if you plan accordingly.  Homes that are priced right out of the gate are selling quickly in today’s market.   Please contact me if you’d like to start a conversation about how to price your home.