(NC) Setting the listing price for your home requires many considerations. If you go too high, your house may not receive interest from prospective buyers – even if you feel your home is above the standard of the neighbourhood. If you price too low, you may sell, but perhaps not for the price you hoped.
“Selecting the ideal pricing strategy for your particular area is crucial to how well you’ll do,” says Brad Johnstone, who’s with Royal LePage Niagara Real Estate Centre. Johnstone recommends you consider the following:
Decide when to sell. Many homeowners will lean toward the spring and fall markets, but don’t discount February, March, April and September. Buyers can be motivated at those times as the number of homes for sale often decreases. Supply and demand will largely dictate the price you set for your home.
Consider the competition in your neighbourhood and similar neighbourhoods in your region. If there are many homes for sale at a given time, perhaps you will do better to list yours later.
Pricing a house is never an exact science. To arrive at a fair asking price for your home, ask a realtor who has specific knowledge of your area and supplement that opinion with your own research.
Find more information at www.royallepage.ca.