How to price your home in a competitive market in the East Bay

PRICING YOUR HOME IS PART SCIENCE AND PART SKILL

In order to sell your home for the best possible price, there are several factors to consider:

TIME OF YEAR

In our area, the Spring is usually the hottest market to sell a home. It’s warming up, school is almost out, and families prefer to move in the summer before the new school year. The second-best season is the Fall. Summer vacations are over, families are back in a routine, and folks have the time to put into the home buying journey. Summer can also be a pretty good time to market a home in our area. There may be a different type of buyer in the Summer months, those singles or families without the concern for school years. The winter months are usually considered a Buyer’s Market because those that are selling during the holidays are generally highly motivated by life events to sell.

SUPPLY

It’s simple supply and demand. If you have more buyers than homes for sale, then houses will get multiple offers and higher sales prices than if there are lots of homes for sale and fewer buyers. Even if inventory is low in the area, some neighborhoods may have a lot of competition to sell, making it harder for you to get the price you want. The more desirable of a neighborhood and lower inventory, the higher home values rise.

READY TO PUT YOUR HOUSE ON THE MARKET?

I will provide you with a CMA (Comparative Market Analysis). This report can be the most important tool in determining the listing price.

The CMA reports usually contain:

• Active listings for your area with a similar home; age of construction, number of beds, baths, and square footage.

• Sold listings are homes sold within the last three months, plus pending sales that are likely to close by the time your home is sold.

• Off-Market or expired listings. These are properties that were taken off the market for any reason.

If you are ready now to get started on a big move or right sizing your home, I can help as your local realtor. Contact me today to get your free home valuation.

CONTACT LESLIE