Tips on Pricing Your Home for Sale in a Buyers Market
The Central Arkansas area has come from the best real estate market in its history. Now the national market has taken an extreme down turn and the average price of homes has actually gone down. The Central Arkansas market has remained much better than most markets. Even thought we have still seen a 3% increase in average price over all, many price ranges and segments of our market have large numbers of homes on the market and competition for buyers is intense. Days on the market have increased and it has become more of a buyers market. Pricing your property at a realistic value has become even more important in today’s market.
The two most important questions you should be asking your real estate agent:
1. What have properties similar to mine sold for in the past three months?
Why only three months? Because the market is changing very quickly this year, and if we use comparables that are older than that if may represent an asking price that is too high in this current market.
2. Who is my competition in the marketplace?
By comparing listings that are in direct competition in your price, size range and general area, you will be able to price yours so it will not be rejected instantly.
Our goal is to get you the highest possible price in the shortest amount of time, and by incorporating some smart pricing strategies we will be able to help you accomplish your goal of selling at market price.
Broker Owner of ERA Armstrong Team, REALTORS in Little Rock, Arkansas. After teaching and coaching in Texas, I enter real estate with my father-in-law Sam Reynolds in 1978. I work as a sales agent, sales manager, and broker for companies till starting The Armstrong Team, REALTORS in 1994 with business partner Jerry Ann Hill. We affiliated with ERA Franchise System 6 years ago. I have been active in the REALTORS Associaion and I am a past president of the Little Rock Board and local MLS. I have been active teacher and trainer of agents for over 20 years.