If you’re thinking about listing your home, the first question on your mind is likely how much it’s worth. Whether you’ve been in your home for decades or it’s a more recent purchase, the chances are good that you have equity as a homeowner in Boulder, Colorado. As Boulder County market updates consistently demonstrate, our market is incredibly resilient and it remains a seller’s market. That being said, it’s critical to price your home appropriately. Pricing too high or too low can have serious repercussions, but fortunately, an experienced agent can help you set an accurate price. Interested in learning more about why pricing matters? Here’s a look at why it is so important:
Reduce Days on Market
We’re past the peak of the market for this year, and as we head into the cooler days of fall, we can expect fewer showings. This isn’t a problem for homes that are priced correctly, but if your property is listed above market value, you could run into trouble. Every day counts, and if you’re not noticing much interest soon after listing, there’s a good chance that you’ve overpriced your home. On the flip side, homes that are priced too low can act as a warning sign to buyers. If you’ve priced your home for less than it’s worth, serious buyers may think there’s something wrong with the home and take their search elsewhere.
Although homes in the luxury market often take longer to sell because there are fewer buyers in this pool, it’s still critical to strategically gauge the price right off the bat. As the days tick by and there are no offers and few showings, shoppers may begin to wonder why it’s still available. Time is of the essence, and newly listed properties create a sense of urgency in buyers. If the property has been sitting on the market for longer than expected, buyers are more likely to feel that they have time to keep looking (even if the home would be a great match for them). You can avoid this problem simply by settling on a fair price when it’s time to list.
Increase the Chances of Offers
Boulder’s market isn’t quite as hot as it was a year ago, so we’re not seeing as many bidding wars. However, that doesn’t mean that your chances of more than one offer are off the table. Having your choice of a few offers is always a great feeling, so if you want to increase your odds of a multiple-offer situation, work with your realtor to determine the right price. Even if you don’t end up with several offers, you’ll still walk away knowing that you received fair market value for your home.
Pricing your home correctly is important no matter when you choose to sell, but it’s especially critical at this point in the year as the market slows a bit. If you’re ready to list in Boulder, I strongly encourage you to work with a realtor who has a deep understanding of our one-of-a-kind market. By getting the price right the first time, you’ll increase your chances of a timely transaction that you’re satisfied with. I understand the importance of price strategizing and consider much more than just comparative market analysis. With each home that I list, I analyze our odds of selling, determine the best time to list, and evaluate the competition to increase our chances of beating them. If you’d like to work with me, I’d love to hear from you! Please contact me to start the process.