When it comes to pricing your home - ask a professional (not the internet)!

There’s no doubt about the fact that the housing market is slowing from the frenzy we saw over the past two years. But what does that mean for you if you’re thinking of selling your house?

While home prices are still appreciating in our Grand Junction and surrounding markets, they’re climbing at a slower pace because rising mortgage rates are creating less buyer demand.

“Homes priced right are selling very quickly, but homes priced too high are deterring prospective buyers.” - Janice Burtis

One common mistake sellers make when pricing their home is to consult with the internet, not their Realtor. While sites like Zillow can give you a rough estimate of your home’s value, they are not an accurate source of pricing information as they do not take into consideration any updates you’ve made to the home and the most recent comps (similar homes sold in your neighborhood).

Why Pricing Your House at Market Value Matters

The price you set for your house sends a message to potential buyers. If you price it too high, you run the risk of deterring buyers.

When that happens, you may have to lower the price to try to reignite 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 what that means about the home or if in fact it’s still overpriced. 

Some sellers aren’t adjusting their expectations to today’s market, and realtor.com explains the impact that’s having:

“. . . the share of listings with a price cut was nearly double its year ago level even as it remains well below pre-pandemic levels.”

To avoid the headache of having to lower your price, you’ll want to price it right from the onset. Home search sites can be a great starting point, but speaking with a licensed real estate professional will give you the most accurate true home value results for today's market.

Not to mention, pricing your house fairly based on market conditions increases the chance you’ll have more buyers who are interested in purchasing it. This helps lead to stronger offers and a greater likelihood it’ll sell quickly.

If you have been looking online for the value of your home, great! We would love the opportunity to sit down with you and discuss your home pricing options! Contact the Janice Burtis Team to get started!