Listing your Beacon Hill condo for sale? {Price it right}
Boston Condos for Sale and Apartments for Rent
Listing your Beacon Hill condo for sale? {Price it right}
How do I know the right listing price for my Beacon Hill home?
The right listing price reflects Boston condo for sale buyer behavior first, then comparable sales, condition, location, and presentation. Price too high and Boston Beacon Hill condo buyers will not engage. Price too low and you risk leaving money on the table.
Ford Realty can assist you in pricing your Boston condo for sale.
Listing your Beacon Hill condo for sale? {Price it right}
Every homeowner wants to hit the jackpot and sell their house for crazy money – it’s like winning the lottery! Those inflicted with the ‘seller disease” always want to add a little extra mustard to their list price, just in case.
It’s a fine line because your chances of selling for top dollar are in the first two weeks, when urgency is the highest. Do you price it high and hope there might be a sucker out there? Or do you price your home attractively so it sells right away when urgency is the highest?
The Pricing Dilemma – The Choices
Auction Style: Price the home 10% under value. Make sure your listing agent has conducted dozens of bidding wars, answers his phone, and enthusiastically responds to every single offer in writing.
Attractively Priced: Price the home at or just under the comparable sales. Judge your chances of selling by what happens in the first four days. The perfect reaction is 1-3 offers from the most motivated buyers who were willing to overlook everything that is wrong.
Typical Pricing: 5% to 10% over comps because the sellers don’t have to sell, they aren’t in a hurry and they’re NOT going to give it away!
Have a strategy. If you only get one offer in the first week, what are you going to do? It’s been said a million times that your best offer is your first offer, but every seller likes to fantasize ….”what if there are two in the bush?”.
The longer the home sits on the market – especially when pricing is flat – the less buyers will want to pay for it. My rule-of-thumb is that buyers expect a discount of around 1% for every week the home is on the market!
If you get an offer early, try to make a deal. It doesn’t get better, later (see graph).
Listing your Beacon Hill condo for sale? {Price it right}
If you’ve ever watched “The Price is Right,” you know that the only way to win is to be the one to correctly guess the price of the item you want without going over! That means your guess must be just slightly under the retail price.
Today’s Boston Beacon Hill condo for sale market
In today’s shifting Boston Beacon Hill condos for sale market, where more inventory is coming to market and home values are projected to appreciate at lower rates, Beacon Hill homeowners will not be able to price their homes as aggressively as they were able to just last year.
They will have to employ the same strategy: be the closest without going over!
As we have explained, pricing your Boston Beacon Hill condos for sale at or slightly below market value actually increases the number of buyers who will see your home in their search
Boston Beacon Hill condo inventory
Over the last two months, more inventory has come to market while the months’ supply of inventory available has dropped. This means that the demand for homes to buy is still very strong throughout the country!
Beacon Hill condo homeowners who make the mistake of overpricing their homes will eventually have to drop the price. This leaves buyers wondering if the price drop was caused by something wrong with the homes when in reality nothing was wrong, the price was just too high!
Bottom Line
If you are thinking about listing your Boston Beacon Hill condo for sale this year, let’s get together to properly price your home from the start!
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Beacon Hill Condo Sales Data Updated in Real Time
Click the link below for Beacon Hill condo sales charts:
Beacon Hill condo sales data based on real time – 30 day tracking
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Beacon Hill Charity Donation
My new goal for the Fall of 2019 is to provide a percentage of our Beacon Hill Real Estate commission to fight Alzheimer’s
Select us to represent you either as a buyer or seller’s agent and we’ll give back a portion of the sales commission to find a cure for this awful disease.
- Having a recent love one suffer and died from this illness broke my heart. Please let us work together to find a cure.
- Ford Realty has been in business for over 20 years.
- Ford Realty Inc has several 2019 positive Google Reviews
- For more information email realtyford@yahoo.com. You can call or send us a text @ 617-595-3712.
- Thank you
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