Pricing Your Property

There is, unfortunately, no simple calculator to figure out how to price your home. Variables such time of year and condition of the property all factor into how to price your home. Overall market conditions affect prospective buyers’ approach to home buying. Interest rates and other macroeconomic factors can affect consumer perception.

On the micro level, the interest in a particular neighborhood or style of home can change in a much less predictable way. Geography plays a big part in pricing a home. Obviously, neighborhood is key. But where does your home sit within a neighborhood? Is it above or below an important boulevard? How close is it to amenities, be those shops and restaurants or hiking trails and water? And how does the house sit on the land? A south facing home tends to have the best natural sunlight, while a north facing home might afford views of the mountains. School districts have always played a role in the value of a home. When you list your property will also affect the selling process. The same property listed at a different time of year may sit on the market longer because of holidays or tax time.

Small details make a big difference and every aspect of the property and the market must be considered when deciding on a listing’s price. It’s not as simple as “the fed cut interest rates, so let’s price it aggressively.” There are many factors to consider and none of them are static.