What would an upward or lower price adjustment look like based on the current market Comparative Market Analysis (CMA)?
Well, let’s look at an example.
Let’s say that the CMA of previously and recently sold similar homes shows that the listing price should be around $235,000.
However, those sales were between one month and three months old.
Our current market listing CMA shows that similar homes in the neighborhood are listed at $249,000 or thereabouts.
We and you may decide that the market is improving and justifies raising the listing price of your home to $245,000 so that it’s still competitive but a better deal for you.
Of course, this can work the other way as well.
A proper list price that reflects current and realistic market conditions is critical to getting your Greater Columbia, SC real estate
property sold quickly.
We don’t want you to under–price, but it’s worse to over–price in any market. Buyers discount value by DOM, Days On Market.
The longer a home stays on the market, the greater they’ll discount their offers. So, a realistic list price is how we make sure your property sells without languishing on the market.
How do we come up with a suggested list price that reflects your home’s competitive position?
It’s a combination of services and experience, and we’re going to be very careful and detailed in our analysis and market evaluations
to make sure that you don’t leave money on the table or sit around wondering why you aren’t getting offers.
Our evaluation of how your property compares to the current competition is the first step.
Then we may suggest some worthwhile corrections you can make to improve that position.
Once we know what your home will look like when listed, we’ll go into our thorough CMA, Comparative Market Analysis, process.