Selling Your Home? Your Asking Price Matters More Than Ever

There’s no doubt about the fact that the housing market is slowing from the frenzy we saw over the past two years. But what does that mean for you if you’re thinking of selling your house? While home prices are still appreciating in our market and experts say that will continue, they’re climbing at a slower pace because rising mortgage rates are creating less buyer demand. Because of this, there are more homes on the market. And in a shift like this one, the way you price your home matters more than ever.

For the last few years sellers were able to price their homes at a higher value because buyer demand was at an all time high due to the artificially low interest rates. However, we are now seeing a shift back to a pre pandemic market, which is still a strong sellers market, we just aren't seeing the same level of buyer interest as we had before.

The price you set for your home sends a message to prospective buyers, if you overreach and price it too high you will be deterring buyers and eliminating a crop of buyers all together. When a home is overpriced it tends to sit on the market for longer, killing all the momentum built up from the marketing and the homes debut showings. When this happens you end up having to reduce your listing price.

Bottom line is a home priced accurately will get more showings, more offers, and ultimately get you a better sales price for your home.

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Is The Real Estate Market Slowing Down?

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