Calculating list price

PRICING AND DETERMINING VALUE

Accurate pricing is an essential factor in creating interest (and ultimately an offer) for your home. By combining our local market expertise with a data-driven approach, we’ll work with you to develop a pricing strategy that maximizes your ultimate bottom line. Neighborhood tracking – it’s important to keep tabs on the value of the neighborhood while we are preparing your home for the market. It’s a delicate dance, but choosing the right price is of the utmost importance to drive the most demand to your home.

CALCULATING A LISTING PRICE

A Comparative Market Analysis (CMA) gives you a clear picture of how to accurately price your home for sale. How do we come up with our suggested selling price? We study your home and others similar to it. But that’s just the start of the process. We’re out and about—listing homes, showing homes, and selling homes every week. You can be sure that we are on top of current local market conditions, trends, and inventory levels, and will bring relevant experience and knowledge to the table when pricing your home. Your CMA will take the following factors into account:
YOUR PROPERTY’S FEATURES

• Location
• Square footage (finished and unfinished)
• Standard features like bedrooms and bathrooms
• Overall condition
• Uniqueness
• Floor plans and flow
• Quality of features

ACTIVE COMPETITION

• New and re-sale (if relevant)
• Replacement costs
• Price, location, features, and condition
• Assessment ratios
• Market activity
• Days on market (DOM)

RECENT SALES

• Sold price
• Price, location, features, and condition
• Assessment ratio
• Time on market
• Price changes

MARKET CONDITIONS

• Inventory levels/supply and demand
• Macro- and micro-level economic factors
• Interest rates
• Consumer confidence
• Area trends and developments
• Time of year