Five Criteria for Pricing a Home

By
Real Estate Sales Representative with Exp Realty 318970

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.


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Rainmaker
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Jeff Masich-Scottsdale AZ Associate Broker,MBA,GRI
HomeSmart Real Estate - Scottsdale, AZ
Arizona Homes and Land Group/ Buy or Sell

Great spot on tips on pricing Jamie Parker Gwinnett . For me putting a value on a "view" is the most difficult thing to do, because it is so unique and in the eye of the beholder. Jeff

Sep 02, 2019 03:46 PM #1
Rainmaker
122,455
Jamie Parker Gwinnett
Exp Realty - Snellville, GA
Realtor, Snellville Homes

Absolutely Jeff. Lots of judgement calls that only we as humans can make.

Sep 02, 2019 04:10 PM #2
Ambassador
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MichelleCherie Carr Crowe Just Call...408-252-8900
Get Results Team...Just Call (408) 252-8900! . DRE #00901962 . Licensed to Sell since 1985 . Altas Realty - San Jose, CA
Family Helping Families Buy & Sell Homes 40+ Years

Along with "homes with similar architectural styles, numbers of bathrooms and bedrooms, square footage, and other basics," also age of property.

Sep 02, 2019 08:06 PM #3
Rainmaker
122,455
Jamie Parker Gwinnett
Exp Realty - Snellville, GA
Realtor, Snellville Homes

Absolutely. We do see age discrimination. Michelle and it does effect price.

Sep 02, 2019 08:13 PM #4
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Rainmaker
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Jamie Parker Gwinnett

Realtor, Snellville Homes
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