Pricing Your Home In Today's Market
I have been looking at the sales in my area for July. The numbers are down across the board for the month. Sellers, if you want your home sold, you cannot over price it. By using the correct method in pricing your home in today's market, your home will sell. Take a look at the sales and how many homes are up for sale in Pell City.
14 homes that sold, at an average price per home of $205,350 the average days on the market were 95 days. When this report was prepared, there were 162 homes in the area for sale. (A home on the lake sold for 1.2 million which brought up the average price per home.)
Year to date sales in the Pell City area up to July 31, 2010 was 107. 
107 divided by 7 months equals average monthly sales of 15.29 per month.
Divide 15.29 sales per month for the 162 homes on the market, you will get 10.59 months worth of inventory on the market. That would be true if no other listings came on or off the market during this time.
Why did the 107 homes sell when the others failed to sell? They were priced correctly for their condition and were marketed so that they would stand out above the rest.
The hardest thing a seller has to face is taking the emotion out of the price and pricing their home by the numbers.
The numbers tell the story, have your home appraised by an appraiser or have an agent run a competitive market analysis on your property. This along with other factors will get your home sold for the best possible price in the shortest amount of time. By pricing your home to sell in today's market, your home will sell.
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