5 CRITERIA FOR PRICING A HOME

Dated: 09/14/2018

Views: 199

When you put your home up for sale, one of the best ways to determine the asking price is to look at comparable sales. There’s rarely a perfect apples-to-apples comparison, so a pricing decision often relies on comparisons to several recent sales in the area. Here are five criteria to look for in a sales comparison.

  1. Location: Homes in the same neighborhood typically follow the same market trends. Comparing your home to another in the same neighborhood is a good start, but comparing it to homes on the same street or block is even better.

  2. Date of sale: It varies by location, but housing markets can see a ton of fluctuation in a short time period. It‘s best to use the most recent sales data available.

  3. Home build: Look for homes with similar architectural styles, numbers of bathrooms and bedrooms, square footage, and other basics.

  4. Features and upgrades: Remodeled bathrooms and kitchens can raise a home’s price, and so can less flashy upgrades like a new roof or HVAC system. Be sure to look for similar bells and whistles.

  5. Sale types: Homes that are sold as short sales or foreclosures are often in distress or sold at a lower price than they’d receive from a more typical sale. These homes are not as useful for comparisons.

Blog author image

Kim Maxwell

Kimberly Maxwell, a fourth generation in Walton County, knows the community and its wonderful lifestyle firsthand. Although she was born in NYC, moved to NC in her high school and college years, her m....

Latest Blog Posts

Is 30A In A Price Bubble

Is 30A in a price bubble? No. Our market is not tapped out just like it was not a year ago or a year before that. We never hit a point like some of the big cities where you saw one day on market

Read More

NOW IS THE TIME

 It’s 16% Cheaper to Buy Now than Late 2018Home prices are going up; mortgage rates are going down. A study by Black Knight found that the buyer savings from mortgage rate drops more than

Read More

Home Ownership Maintenance Tips

When you buy a home you realize its probably the biggest investment you will ever make in your lifetime. Whether its a first home, second home or investment property, they all require a certain

Read More

2020 CAA Valentine Tour Of Homes Is Coming Soon

Come join us for the 2020 Valentine Tour of Homes benefiting the Cultural Arts Alliance of Walton County on Saturday, February 15 and Sunday February 16.  Featuring amazing homes on Hogtown

Read More