5 Pricing Criteria for a Home

Dated: October 5 2020

Views: 0

When you put your home up for sale, one of the best ways to determine the asking price is to look at comparable sales. There’s rarely a perfect apples-to-apples comparison, so a pricing decision often relies on comparisons to several recent sales in the area. Here are five criteria to look for in a sales comparison.

  1. Location: Homes in the same neighborhood typically follow the same market trends. Comparing your home to another in the same neighborhood is a good start, but comparing it to homes on the same street or block is even better.
  2. Date of sale: It varies by location, but housing markets can see a ton of fluctuation in a short time period. It‘s best to use the most recent sales data available.
  3. Home build: Look for homes with similar architectural styles, numbers of bathrooms and bedrooms, square footage, and other basics.
  4. Features and upgrades: Remodeled bathrooms and kitchens can raise a home’s price, and so can less flashy upgrades like a new roof or HVAC system. Be sure to look for similar bells and whistles.
  5. Sale types: Homes that are sold as short sales or foreclosures are often in distress or sold at a lower price than they’d receive from a more typical sale. These homes are not as useful for comparisons.
Blog author image

Julie Bowes

As the closing coordinator for HG Agents, Julie coordinates all of the details from the time your home goes under contract, until the time it closes. She makes sure all dates are met, I’s are dotted....

Latest Blog Posts

Have You Outgrown Your Space?

Unfortunately, our homes don’t always grow with us. What may have initially worked fine for a single person, a young couple’s starter home, or a family with a newborn can quickly become

Read More

A Seasonal Guide to Maintaining Your Home

HOUSE CARE CALENDAR:  A Seasonal Guide to Maintaining Your Home From summer vacations to winter holidays, it seems each season offers the perfect excuse to put off our to-do list. But be

Read More

COVID-19 and Real Estate: FAQs

As the world has adapted to the coronavirus pandemic, so too has the real estate industry, both locally and afar. While things may look a bit different, activity has picked up and the market is HOT

Read More

Negotiating Tactics That Hurt

Negotiation is a subtle art in real estate, but skilled negotiators can usually find some common ground that satisfies all parties. On the other hand, using the wrong negotiation tactics can sink a

Read More