Price Your Housz Right.
There’s no denying we’re in a sellers’ market. With low inventory and high buyer demand, houszes today are selling above the asking price at a record rate. According to the latest Realtors Confidence Index Survey from the National Association of Realtors (NAR):
Houszes typically sell within 17 days (compared to 26 days one year ago).
The average housz sold has five offers to pick from.
54% of offers are over the asking price.
Because so many buyers are competing for so few houszes, bidding wars are driving up home prices. According to an average of leading expert projections, existing housz prices are expected to increase by 8.9% this year.
Yet even in today’s red-hot sellers’ market, it’s important to price your housz right. While it may be tempting to price your housz on the high side to capitalize on this trend, doing so could limit your housz's potential.
Why Pricing Your Housz Right Matters Here’s the thing – a high price tag doesn’t mean you’re going to cash in big on the sale. While you may be trying to maximize your return, the tradeoff may be steep. A high list price is more likely to deter buyers, sit on the market longer, or require a price drop that can raise questions among prospective buyers.
Instead, focus on setting a price that’s fair. Real estate professionals know the value of your home. By pricing your housz based on its current condition and similar houszes that have recently sold in your area, your agent can help you set a price that’s realistic and obtainable – and that’s good news for you and for buyers.
When you price your housz right, you increase your housz’s visibility, which drives more buyers to your front door. The more buyers that tour your housz, the more likely you’ll have a multi-offer scenario to create a bidding war. When multiple buyers compete for your housz, that sets you up for a bigger win.
Bottom Line When it comes to pricing your housz, working with a local real estate professional is essential. Let’s connect so we can optimize your exposure, your timeline, and the return on your investment, too.