Sellers telling me their neighbors sold for $50K More than my comps show today

1 year ago
3

We are in a shifting market. We aren't "crashing" but the data has shown us a slight decline in values last month and I believe that trend is continuing. When we look at comps now it's critical we are looking at recent comps and being aggressive in pricing properties. No more listing homes at the top of the range of what we believe the value to be, those homes are SITTING on the market and ultimately sell for less than if they were priced right to begin with. Strategy is everything in a market like we're currently experiencing. Just because your neighbor sold their home for $50k more 6 months ago does not mean yours will sell for that. There's are MANY factors to consider the biggest being timing, but we need to look at square footage, bed and bath count, remodels/repairs, layout, upgrades, positioning (does you backyard border a commercial space?), Or any other unique factors that could impact your value. A good realtor will not only provide you with the comparable recent sales but also walk you through the differences and why we believe the value to be what it is. It's not easy facing the reality that we've passed the peak of the market but it's still an amazing time to sell. Homeowners today are sitting on a TON of equity and average days on market is still about 2 weeks. Thinking about making a move? Let's talk!

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