The Charleston housing market is an energetic and high-performing one, which is great for both buyers and sellers. For those looking to sell their home in Charleston, you are lucky enough to be selling a home in a city that’s been seeing a relatively steady rate of sale lately. In fact, the Charleston Trident Association of Realtors housing market report states that the median price for selling a home has risen 5% and that pending sales have increased by 14% since this time last year. What that all boils down to is that it’s a great time to try and sell a house right now! The number one concern for the majority of home sellers is figuring out the right price at which to sell your home. You don’t want to price it too high and scare away buyers, but you also don’t want to lowball yourself and miss out on potential profit. Here are 5 tips to consider when trying to price your home so that you can hit the sweet spot and sell your home for a great price.
Looking to sell your home? Get started with these helpful tips.
Know What Comparable Homes are Selling ForYou can work with your realtor to pull up comparable listings and statistics to see what other homes in your area and of similar build have sold for recently. You can look at homes with similar square footage, in nearby neighborhoods, with the same number of bedrooms and bathrooms, and home age.
Don’t Forget to Include Upgrades You’ve MadeWhile comps are a great benchmark for setting a baseline, it’s also important to take into consideration any upgrades you’ve made on the home. Things like a built-in pool, appliance upgrades, additions, new major home improvements like a new roof or cosmetic upgrades like new flooring. Anything you do to make your house look like the most appealing one on the street can all work to increase your asking price.
Set your Minimum...and Stick To ItOnce you’ve gotten a look at what other homes in your area are selling for, you need to look at your personal financial situation and what you need to sell your home for in order to succeed in your personal life. For instance, if you’re moving to a new home, maybe consider the price differential between the two properties and determine what price you’ll need to sell your home in order to comfortably afford your new mortgage. Figure out what the bare minimum you need for a sale price and see how that compares to the comps. A good rule of thumb is to try to start your asking price at least a few thousand dollars above your minimum so that you have room for negotiations.
Unsure about your price? Look to the pros.If you’re still unsure of where to price your home, consider hiring a professional. An appraiser will look at your home and give you a market value for your property that you can use when listing your home for sale.
Flexibility is KeyKeep in mind that pricing is not set in stone. If you’ve listed your home for a while and it’s not getting a lot of attention, work with your agent to determine if lowering the price will make it more attractive to buyers. Be flexible and react to the changes in the housing market to make sure you’re pricing your home efficiently.
If you’re looking to sell your home, contact NV Realty Group today. Our local experts are here to answer any questions you may have and help you get the best price for your home.