The Market & Your Home
The best place to start is understanding the market. Next, how does your home fit into the market around it? Much of your home’s value lies in its location and size, but there are many other factors in pricing. Here are some of the factors that will help you choose a starting price point:
Characteristics of the market in general. How is the economy? How are interest rates? Is it a “seller’s market” or a “buyer’s market”?
The season. Spring is generally the “hottest” time of year to sell a home.
Number of houses on the market. Is there an abundance of listings or is “stock” low? What have other homes around you sold for recently? Are they selling quickly or slowly?
How your home compares to others around it, especially ones that have sold recently. Consider the upgrades you’ve made, the layout of the home and the features of your lot.
Median Sales Price (July 2024)
Here are the year-to-date changes in median sale price for our region.
+8.5%
Cincinnati
+2.28%
Dayton
-1%
Kentucky
What You Can Expect From an Agent
You know your home better than anyone else. And your agent knows the market. That’s why together, you make the perfect team. You and your agent can look at what’s happening in your neighborhood, identify what sets your home apart from the rest—and price it accordingly. Expect your agent to:
Give you the latest insights into your local market and how that plays a role in the sale of your home.
Help you understand buying trends and look objectively at what current buyers may find most interesting or desirable about your house.
Find the best comparable home sales to help you gauge pricing. Comparing and contrasting your home to “comps” is a skill your experienced agent practices every day.
Help you set a price you’re confident about. When your decision is backed by a real estate professional, you can hit the MLS (Multiple Listing Service) feeling great. Studies show your first two weeks on the market are critical. This is when your home will be exposed to all active buyers. You have one shot to grab their attention. If your price is seen as too high, you’ll lose those potential buyers.
Read what the market is saying about your price once it’s listed. The market will ultimately determine its value.
Think about price ranges like a buyer who’s using online search filters. Your agent should be well-versed in strategic "hinge" pricing.
Sell with Sibcy Cline
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