As a seller, here’s what you should be most concerned about in today’s real estate market.
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Before you even decided to put your property on the market, there are three things that you should know first:
1. Be aware of your competition. Know the other properties on the market that are comparable to yours and that active and available in your area. It’s important not only to look at the sold data, but also to know which properties compete with yours.
2. Know how much inventory is on the market. The amount of inventory may depend on the price point in the area yours is listed in. For example, the properties that are under $250,000 may only have an average supply of two months, and those over $500,000 may have an average supply of five months. This information is very important to have on hand when pricing your property.
3. Know your timeframe to sell and price accordingly. Depending on your financial situation, how quickly you need to sell, how many competing properties there are, and the average days on market in your area, you may have to be more aggressive with your pricing.
Pricing your property is really important in achieving your financial goals. If my team and I can be a resource for you in any way and provide you with any information on your property, don’t hesitate to reach out. We’d love to hear from you.