Sellers: How Much is Your Home Worth?

If you are a seller, one of your main goals is to sell your home at the highest possible price. Some sellers will set goal amounts that they want to sell their homes for, but... how exactly do they arrive at this price? Many sellers start by looking at their home’s Zillow and Redfin estimates, and perhaps even add a little extra to arrive at their goal amount. Others will simply take their neighborhood’s average price per square foot, then multiply by the number of square feet in their home. Some sellers will decide on an arbitrary number based on sentimental attachment to their home. 

Zillow and Redfin are a great place to start. However, additional fine tuning is needed to get a more accurate picture. Recently sold comparable neighborhood homes, or “comps”, will give sellers an idea of what similar homes are selling for in the current market. 

Sellers should step into buyers’ shoes and objectively evaluate their home’s features, starting with those that are fixed and cannot be changed: home location, lot size and shape, schools. How does your home’s fixed features compare to those of recent comps? Next, evaluate “semi-fixed” features, such as home layout, flooring materials, and age and state of kitchen, bathrooms, and bedrooms. Are your home’s semi-fixed features more or less desirable than those of recent comps? Finally, evaluate the interior decor and overall “wow factor” of your home. 

Strategically pricing a home to sell will depend largely in part on having a good, objective idea of a home’s market value. As your real estate agent, I will get to know your property and all of its features, and calculate a market value range based on my expert market data analysis. If you are curious about what your home is likely to sell for in today’s market, please text or call me to chat at any time at (310) 701-3346.