Pricing your home correctly in today’s market is crucial. A home that isn’t priced appropriately can sit stagnant, leading to lost time and money. As you prepare to list your home, understanding these five key statistics will help ensure you position your property for a successful sale.
1. Days on Market (DOM)
The average days on market (DOM) is an important indicator of how quickly homes are selling in your area. It’s essential to analyze both sold and active listings to identify trends. If homes similar to yours are selling quickly, pricing competitively can help you generate strong interest and avoid unnecessary price reductions.
2. Appreciation vs. Depreciation
Understanding home value trends is essential when setting a price. Are home values in your area appreciating year over year, or are they experiencing depreciation? Knowing the rate at which home values are changing can help you price competitively while maximizing your return.
3. Percentage List-to-Sale Price
This statistic compares the original list price to the final sale price, offering insight into pricing trends. Price reductions are becoming more common, so understanding how much homes are selling for compared to their initial listing price can help you set a realistic and strategic asking price.
4. Number of Showings
Buyer activity is one of the most telling indicators of market health. A high number of showings suggests strong demand, whereas fewer showings may indicate a need for a price adjustment. Tracking this metric can help you gauge interest in your property and adjust accordingly.
5. Additional Pricing Strategies
Even in a seller’s market, proper positioning is key. Consider these additional strategies to make your home more attractive to buyers:
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Pre-Inspection – Identify and address potential issues before listing.
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Buyer Incentives – Offering a home warranty or assistance with closing costs can make your home more appealing.
Homes that are priced correctly and positioned well are still receiving multiple offers. Partnering with a knowledgeable local real estate expert will ensure you have the best pricing strategy to sell your home quickly and for the best possible price.
