Signs Your Home Is Overpriced

Are you selling your home? Pricing your home at the right price can be the difference between your home staying on the market and making a swift and fair sale. Because an overpriced home is less likely to yield a sale when there are other more inexpensive alternatives.


It can be confusing at times when deciding what to price your home at. But we’re here to help you! Here are some signs that your home is priced incorrectly.


No Showings, No Offers


One of the top signs that your home is overpriced is that your home will have many showings and no offers or few showings at all. Your home could be beautiful and attract plenty of potential buyers, but isn’t priced to sell. Help homebuyers take the plunge and send in offers. Even if you’re willing to negotiate, buyers can be turned off by the price especially if they’re not the type to bargain. As a seller you want to draw as many offers as possible, but if nobody comes to your open house, then the outcome is sure to disappoint.


Look At The Surrounding Homes


If you look at other homes in the area and your home is priced well above them, then your home is probably overpriced. Make sure to calculate any upgrades that you have made or extra square footage. Your home may be able to get away with being slightly above average. While you don’t want your home to be overpriced, you also don’t want to sell yourself short. Just be sure it isn’t too far past the average selling price.


Additionally, you should research the average time period in which most sales happen in your area. If your home has been on the market for longer than the average home, then you may need to reevaluate your pricing.


What You Should Keep In Mind


There are a few more concepts to keep in mind when determining your pricing. The first is that your needs alone cannot determine the selling price of your home. Simply put, as great as it would be to sell your home for an equal price as your next home, it doesn’t always happen that way. You should price according to home value, community average, and expert advice.


If it’s been thirty to sixty days of inactivity, you should sit down with your Realtor to reevaluate your asking price for the best results. A professional Realtor with experience and expertise in the area will be able to get your home moving and offers flowing.

Looking to purchase and sell in the Apopka area? Contact Michelle Chase at (407) 595-7685 for a top Realtor that will be able to sell your home for a great price!