Over the last year, the housing market’s gone through significant change. While it’s still a Boston condo’s sellers’ market, homes that are priced right are selling, and they get the most attention from buyers right now. If you’re thinking of selling your house this spring, it’s important to lean on your expert real estate advisor when it comes to setting a list price. As Realtor.com explains:
“Move-in-ready homes with curb appeal and in desirable areas—and that are priced to sell—are especially likely to move quickly this spring.”
In today’s market, how you price your Seaport condo for sale will not only make a big difference to your bottom line, but to how quickly your house will sell.
Your asking price sends a message to potential buyers, especially today.
If it’s priced too low, you may leave money on the table or discourage buyers who may see a lower-than-expected price tag and wonder if that means something is wrong with the home.
If it’s priced too high, you run the risk of deterring buyers. When that happens, you may have to lower the price to drive interest when your house sits on the market for a while. But be aware that a price drop can be seen as a red flag by some buyers who will wonder what it means about the home.
To avoid either headache, price it right from the start. A real estate professional knows how to determine the ideal asking price. They balance the value of homes in your neighborhood, current market trends, buyer demand, the condition of your house, and more to find the right price. This helps lead to stronger offers and a greater likelihood your house will sell quickly.
The visual below helps summarize the impact your asking price can have:
Homes priced at the current market value are selling faster and at a better price right now. To make sure you price your house appropriately, maximize your sales potential, and minimize your hassles, let’s connect today.
If you’re about to list your Seaport or Chares River Park condo, you should know that there are pretty much two ways the offer situation will go. If one or more buyers are going to write offers for more than asking, those offers will happen within the first few days. After that, it’s likely buyers will write for at or below asking.
That’s why sellers need to seize the day when it comes to considering offers in that brief window of time directly following the on-market date. The motivated, ready-to-buy Boston condo buyers will be scheduling appointments immediately, not waiting for the weekend. If you have multiple buyers requesting disclosure packages, it’s probably a good idea to set an offer date. Your agent needs to be on top of the proceedings, helping you make that game-time decision about offer timing.
If a week passes and you have no solid offers, it’s going to be an uphill climb to get a price that’s more than the list price. Buyers are running around knocking ten percent off the list price after a property remains on the market after its initial splash. This is particularly true for downtown Boston real estate; inventory and starting to increase like in Beacon Hill, and buyers can be picky.
So have a realistic sense of what your downtown Boston condo is worth and perhaps price it a bit lower than your target price.