Pricing your home correctly is the most vital component of a timely home sale. To determine the optimal price, we look at a many different factors, comparing similar properties, making adjustments for difference among them, tracking market movements, and taking stock of present inventory to arrive at a range of value.
When we look at comps, the best ones are generally within a half mile of your home, factoring in any dividing lines or barriers. Next we look at listings with similar age and square footage, within a 10% range if possible. The last factor we consider are features and amenities. Assigning value to these is an inexact science, but the most important thing to evaluate is whether they are common to your market. If every house has a 2 car garage and yours just has one the projected value should be reduced.
We look at houses similar to yours that have sold, are pending, or withdrawn or expired to price your home. We look at active listings, but these homes are your homes direct competition so they only matter in how they compare to your listing. Keep in mind that sellers can put whatever price tag they want on their home regardless of what the market says it should cost.