Importance of Pricing your Home to Sell

If you want your home to sell within a certain time frame, it is extremely important to price your home right. But, how do you know what price to set?

Home PriceMany homeowners want to set their list price based on factors such as how much they bought their home for, the balance of their mortgage, the profit they want to make, or what their neighbor sold their house for. In reality, your home is worth only what the market will bear. If you price your home too high, some potential buyers won’t want to look at it at all, and if you price it too low, you’re leaving money on the table.

The Saskatoon Region Association of REALTORS® (SRAR) just released and article stating “Pricing Key in Current Market”.

In this article SRAR states that in 2007, pricing your home to market wasn’t as factor as prices were rising quickly. The demand was strong and the inventory levels were low, so home owners could set their own price, within reason, and your home would sell quickly. This is what is called a seller’s market.

The current real estate market in Saskatoon though is quite different. Inventory levels are quite high making it a buyer’s market. Buyers have many options when choosing a new home and neighborhood and the average time to sell a home has increased by 15% over the five year average.

So how can a home owner figure out what price they should set their sale price at? That’s where I come in. As an experienced real estate agent, I’m in the market every day and I will work for you to help you set a price that meets your need, but one the market will bear. I sell 96% of the homes I list, which is 30% higher than most local Saskatoon REALTORS®.

If you’re looking to sell your home, call me today at 306-222-2922.