If you’re thinking about selling, here’s the one piece of advice we give every seller right now: time on market steals your equity.

What that means

When a home first hits the market, buyers are interested. As it sits, they stop thinking “we should pay more for it” and start thinking about lowball offers.

We recently saw a beautiful home for sale. Looking at the pricing history, over about a 45 day period, it had dropped almost $50,000 in price. Time on the market started to steal the sellers’ equity.

The better move: price right at the start

Chasing the market with price drops usually costs more than pricing correctly from day one. Here’s how to think about it:

  1. Start with recent sales. What nearby, similar homes actually sold for is the best source when considering your pricing.
  2. Think about the first 2 weeks. That’s typically when a new listing gets the most attention, so it’s the moment your price matters most.
  3. Be honest about condition and competition. Your home is priced against what else buyers can see today, not against last year’s market.
  4. Review the numbers early. If showings and interest aren’t where you expected, talk about it quickly, before the listing goes stale.

Not sure where your home stands?

We’ve helped more than 400 buyers and sellers reach their real estate goals this year. If you’re thinking about selling, we’ll give you a free home value estimate and a strategy session on pricing your home right for the shifting market today.

Call or message us today
The Dave Hooke Team: (717) 216-0864
Keller Williams of Central PA: (717) 249-1844
support@davehooketeam.com

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The Dave Hooke Team | Keller Williams of Central PA