Pricing Your House Right Still Matters Today




While this isn’t the frenzied market we saw during the ‘unicorn’ years during COVID, homes that are priced right are still selling quickly and seeing multiple offers right now. That’s because the number of homes for sale is still so low. Data from the National Association of Realtors (NAR) shows 76% of homes sold within a month and the average saw 3.5 offers in June.  

To set yourself up to see advantages like these, you need to rely on an agent. Only an agent has the expertise needed to find the right asking price for your house. Here’s what’s at stake if that price isn’t accurate for today’s market value.

The price you set for your house sends a message to potential buyers.

Price it too low and you might raise questions about your home’s condition or lead buyers to assume something is wrong with it. Not to mention, if you undervalue your house, you could leave money on the table, which decreases your future buying power.

On the other hand, price it too high and you run the risk of deterring buyers from ever touring it in the first place. When that happens, you may have to do a price drop to try to re-ignite interest in your house when it sits on the market for a while. But be aware that a price drop can be seen as a red flag for some buyers who will wonder why the price was reduced and what that means about the home."Your house’s market debut is your first chance to attract a buyer and it’s important to get the pricing right. If your home is overpriced, you run the risk of buyers not seeing the listing . . . But price your house too low and you could end up leaving some serious money on the table. A bargain-basement price could also turn some buyers away, as they may wonder if there are any underlying problems with the house."

Think of pricing your home as a target. Your goal is to aim directly for the center – not too high, not too low, but right at market value.

Pricing your house fairly based on market conditions increases the chance you’ll have more buyers who are interested in purchasing it. That makes it more likely you’ll see multiple offers too. Plus, when homes are priced right, they still tend to sell quickly.

To get a high-level look into the potential downsides of over or underpricing your house and the perks that come with pricing it at market value, see the chart below:

Lean on a Professional’s Expertise to Price Your House Right

So why is a local real estate expert agent essential in finding the right price? Your local agent has the skill and the insight necessary to find the market value of your home.  Our listing specialist and team leader Jessica Hood has over 20 years of local real estate market experience and the right tools and technology to pinpoint your best asking price range and give you insight into how that can fluctuate up or down, but in this market, usually up.  It's super important to price your home in the right zone to show the appraiser you are tuned into market values.  If multiple offers take the price higher than the prediction, that is great supporting information to increase the neighborhood value through your home sale.  We love to shatter neighborhood pricing records and we're darn good at it.  

  • The prices of recently sold homes
  • The current market conditions
  • The size and condition of your house
  • The location of your house

Bottom Line

Pricing your house at market value is critical, so don’t rely on guesswork. Let’s connect to make sure your house is priced right for today’s market.

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The Roskelly Team specializes in homes for sale near Fort Meade MD including Anne Arundel County, Baltimore County, Howard County, Prince George's county and the cities of Odenton, Crofton, Gambrills, Piney Orchard, Severn and beyond.  Come search homes with us at www.FortMeadeHomes.com