With so many homes on the market, it is important that you price your home to sell. The only way to know what price to list your home for is by knowing the housing market in your area including what the houses that are similar to yours are currently listed for and what similar houses have sold for. With this information you will be able to evaluate the features of your home and compare these features with other properties.
Understanding the real estate market in your area means the city that you live in and the specific neighborhood. The more desirable neighborhoods will sell higher than even the average sales in your city. So know how desirable your neighborhood is by keeping track of the homes that are listed for sale and the ones that sell. A neighborhood that has many homes for sale may not be as desirable as those with none.
Once you understand the value of homes in your city and neighborhood it is time to begin comparing homes. A real estate agent can provide you with an assessment of where you fit in the market. This assessment will provide you with a report of the current homes for sale and the homes that have sold that are similar to your home. This is usually a complimentary service and does not require you to list with that agent. If you prefer to do it yourself, call around for the price of homes in the area or look at real estate books until you have an idea of the market. Consider how updated your home is and the cost of any work that needs to be done when deciding the price. It is currently a buyer’s market so list your home at a competitive price to attract buyers.