Getting Your Listing Price Right the First Time Matters

Today’s Market Isn’t the Same as a Year Ago, and You Need To Be Prepared!

The market is changing rapidly, and to be as prepared as possible as a home seller, it's important to stay on top of the changes in the market. The market today is not the same as it was a year ago, or even a few months ago. Today, it's important to make sure that you are pricing your home correctly when you list it in order to get the most money, and to get your home sold as fast as possible.

Comparing Today's Sellers' Market With the Pandemic Sellers' Market

When looking at the current market and the frenzied sellers' market that we saw during the pandemic, the most important factor to understand was the supply and demand of housing. Mortgage rates were low, and the actual supply of homes was low as well, leading to a market where sellers could list their homes at a very high price and reap the rewards. For those that believe we are still in that type of market, there are some changes that you need to be aware of when it comes to listing your home.

The primary difference between our current market and that of the pandemic market is the demand from buyers. Recent increases in interest rates have simply priced out a number of buyers or caused enough concern in others that they are willing to wait and hope for a decrease in interest rates in the future. We have talked previously on our blog about what kind of an impact an increase in rates can have on your buyer pool when considering selling your home, and the effects are still the same today. Sam Khater, Chief Economist for Freddie Mac had this to say when talking about the supply and demand in the housing market,

"Although rates continue to fluctuate, recent data suggests that the housing market is stabilizing as it transitions from the surge of activity during the pandemic to a more balanced market ... Declines in purchase demand continue to diminish while supply remains fairly tight across most markets".

How We Price Your Home the Right Way

Getting your home priced correctly from the get-go is crucial in this market, and will continue to be crucial going forward. Lawrence Yun, Chief Economist for the National Association of Realtors commented on the importance of the price of homes when looking at home sales from June of this year,

"Homes priced right are selling very quickly, but homes priced too high are deterring prospective buyers".

When you work with a member of the Ask Cathy Listing Team, we work with you to ensure that your home is priced strategically in order to get you the most money for your home as possible. When determining the price of your home, it's important to know what factors influence the price of your home, and what factors have no bearing on your home's value.

One of the biggest advantages of having an experienced Realtor working with you is the experience and understanding of the local market, and the ability to pull recent comparable home sales. Having the knowledge and experience of selling in the area is invaluable when pricing your home, as the agent understands the value of the homes in the area, local buyer behaviors and attitudes, and can show you comparable recent closings to show you exactly where your property stands.

Learn More About Listing Your Home With Ask Cathy

In this ever-changing market, it's important to work with experts in the industry who know how to win for their clients. When you list with the Ask Cathy team, you're working with real estate professionals who have been in business for 20 years. We've seen every kind of market there is, and know how to get you the most money for your home. Want to schedule a complimentary consultation? You can call us at (816) 268-4033, or fill out the contact form below to reach a member of our team!