Pricing a home, the top 5 criteria to getting the price right

Dated: 04/10/2019

Views: 3

When you put your home up for sale, one of the best ways to determine the asking price is to look at comparable sales. 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 to 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.

Blog author image

Max Cruz

From a young age, Max Cruz has held a great deal of respect for the real estate profession.

His father began working in the industry in 1997, and it was during those years that Max first became at....

Latest Blog Posts

Home Sales fell in April

Key Points from National Association of RealtorsA sizable drop in mortgage interest rates didn’t do much to help home sales in April, as high prices and tight supply at the low end of the

Read More

Revere Beach Kite festival

The 5th Annual Revere Beach Kite Festival is a great opportunity to get the family out to enjoy some fresh air. This is a FREE event that the whole family will enjoy. Kids can fly kites high into

Read More

WHAT'S THE RIGHT DOWN PAYMENT STRATEGY FOR YOU?

You’ve most likely heard the rule: Save for a 20-percent down payment before you buy a home. The logic behind saving 20 percent is solid, as it shows that you have the financial discipline and

Read More

April Pending Sales Are Up!

April Pending Home Sales from Massachusetts Association of RealtorsWALTHAM, Mass. – May 8, 2019 – The Massachusetts Association of Realtors® (MAR) reported today that the number of

Read More