A pricing strategy that is sensitive to market trends is likely to result in the best selling price. As a starting point, your real estate agent should thoroughly research comparable homes in your neighborhood and town. Recent sale prices, the current prices of similar homes, and even homes that didn't sell and were taken off the market should all be reviewed for you.
At Mendenhall Properties, we use a unique tool called a Price Trend Analysis, to analyze this data. It goes beyond the capabilities of a typical Comparative Market Analysis (CMA) by projecting local price trends. With our method, we can factor in the many market influences that impact price – including supply of homes versus demand, how the local economy is faring, and home appreciation rates – to determine your home's Fair Market Value .
An attractive initial listing price, based on Fair Market Value, is especially important. As you can see from the chart below, pricing greatly affects the number of buyers your home will attract. And homes almost always gain the most attention when their listings are new to the market.
When your home is polished and attractively priced, your agent will launch it into the real estate market. Get the latest updates on the real estate market.
