The statistics are in from December 2022! Although the news or social media may be stirring fear in you, making you believe the market is tanking…the facts don’t lie. According to the numbers for Story County from last month, the number of home sales increased by 20% from November to December. Not only that, but the average sales price also went up by 18%.

While the market has slowed down due to those high mortgage rates - hi, mortgage rates, it’s you, you’re the problem, it’s you - it’s certainly not coming to a halt. Instead, as realtor.com explains:

“. . . some of the more prominent pandemic trends have changed, so sellers might wish to adjust accordingly to get the best deal possible.”

Essentially, what that means is… If you’re thinking of selling your home in a more moderate market, how you price your home is going to greatly impact how successful you are. As the numbers show, homes that are priced right are still selling in today’s market.

Why The Asking Price is So Important

When you price your home, it sends a message to potential buyers. If the price is on the low-end, it may miss the opportunity to earn money that should have been yours for the taking, or it could create doubt in buyers, making them wonder if something is wrong with the home.

On the other end of the spectrum is a home that is priced too high. On that front, buyers may be deterred from even considering looking, let alone buying. If that happens, the price may need to be lowered to regenerate interest if the house sits on the market for some time. And a drop in price may indicate to buyers there is something to be concerned about.

Therefore, it’s important to avoid either pitfall. How do you do that? By working with a qualified real estate professional, such as Kris Gardner. Kris has years of experience and is well versed in understanding how to balance the value of a home with your neighborhood, current market trends, buyer demand, the condition of your home, and more… all aspects to consider when finding the right price for your home.

See the chart below by Keeping Current Matters that visually summarizes how the asking price can impact the selling process.

What You Need to Know

The statistics from December 2022 are clear - homes that are priced at current market value are selling. It’s critical your home price is appropriate while also maximizing your sales potential and minimizing the hassle. Therefore, contact our team today to help you navigate it all.