5 Criteria for Pricing a Home
Do you know how to price your home? 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.
- 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.
- Date of sale: Pricing your home 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.
- Home build: Look for homes with similar architectural styles, numbers of bathrooms and bedrooms, square footage, and other basics.
- 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.
- 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.
Looking for the best real estate agents to represent your property and home in Prescott Arizona area. Let’s meet and get you on the path to pricing your home and selling your home. Contact us for details. Click below to check out some of the pricing of home in your area and then reach out to us for a complete market analysis.
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PAAR Listing Data last updated 3/27/2020 12:30 PM MST.