Make Sure To Note Houses That Have Not Sold Yet Or That Did Not Sell When Pricing Your Home

Most homes sell these days, and most homes sell quickly.  But not all homes.

Thus, there are three categories of homes we need to consider when determining an appropriate asking price for your home...

This is the most clear cut and often the place we start.  We will examine homes similar to your house that have sold in the past six to twelve months to get a sense of what other buyers have paid for other homes that are similar to your home.  While this is where we will start, it shouldn't be where we stop.  We need to consider the other two categories of homes.

This includes homes that are on the market but not yet under contract... as well as those that are on the market and under contract.  We'll need to consider how long these homes have been on the market, whether they have had price reductions, and whether they are under contract yet.  We won't know what they will really sell for until they actually sell.

This is an oft overlooked portion of a market analysis.  What homes came on the market... did not sell... and came back off of the market.  Was there something particular about the house that did sell that will not impact the sale of your home?  What was the market response to that other homes when it was listed for sale.  We can't always fill in all of the answers here, but we should at least pause to consider how homes that did not sell impact the potential pricing of your home.

It is important to take a wide view of sold homes, pending listings, active listings and withdrawn listings when pricing your home for sale!