Pricing a home is never an easy task.Price reductions, price improvements, price adjustments, it doesn't matter what you call it, nobody wants to hear about lowering prices except a buyer. Adjusting the price of a home during the process of selling your home is a good practice. Consider these three tips when reducing your home price.
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Pull up sold comparrables and active listings and compare them with the features of your home.it is a key exercise in determining a range of value when reducing your price
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Have your agent pull up pending sales and examine the history of them. You won't know the sold price, but you can pin down average price reduction percentages.
- Know the number of similar homes for sale and the number that sell annually, this will allow a calculation to learn the sales rate. An example; there are 10 similar homes for sale or expected to come on the market and history shows 10 will sell during the year, this data suggests the supply and demand are equal. While the market is a moving target, the second example indicates there is a better chance of a sale, sooner, and at a higher price.
