Hampton Roads Real Estate Ramblings

Hello Hampton Roads, Pricing your home to sell is both an art and a science. Too high, and your home may sit on the market for months. Too low, and you might leave money on the table. So, how do you determine the perfect asking price? Let’s break down the key metrics and strategies to help you set the best price for your home. 📊 The Metrics to Value Your Home When determining the asking price, it’s important to use a combination of data points. Here are the most commonly used methods: 1. Comparable Sales (Comps) This is the foundation of pricing a home. Comps are recent sales of similar properties in your neighborhood. When reviewing comps, consider: Sold Listings: These reflect what buyers have recently been willing to pay. It's crucial to look at homes with similar size, condition, and features. Active Listings: These are homes currently on the market. While active listings show competition, they don't necessarily reflect what buyers will pay. Pending Sales: Pending sale