Things To Consider When Pricing a Home for Sale

Dated: 10/03/2019

Views: 8

When you are considering putting your home on the market, one of the best ways to determine the asking price is to look at comparable home 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.


Blog author image

Doug Dodson

Doug Dodson, a Navy Veteran, a Pastor for 15 years, and a Manager in a fortune 500 company recently began a new chapter in life as a Realtor in 2017. Appreciative of our Active Duty Military members, ....

Latest Blog Posts

Your Down Payment Strategy

WHICH DOWN PAYMENT STRATEGY IS RIGHT FOR YOU?You’ve most likely heard the rule: Save for a 20-percent down payment before you buy a home. The logic behind saving 20 percent is solid, as it

Read More

Open house in Larson Ranch neighborhood in Colorado Springs.

Getting ready for an open house 101:Step one: Find a house currently on the market to host open.Step two: Pick a day and time.Step three: Find someone to host with you. A fellow Realtor, your,

Read More

Today is my last day as an “Active Duty” soldier and tomorrow will be my first as a “Civilian.”

Today is my last day as an “Active Duty” soldier and tomorrow will be my first as a “Civilian.” I do not know where to start, but this is my story so here I go… On

Read More